Bitcoin Technical Analysis: 2 APR 2025
Bitcoin’s price chart for 2nd April 2025. Source: TradingView
General View
Bitcoin remains in a steady uptrend, channeling inside an ascending parallel structure. The recent bounce from support reinforces bullish strength, with buyers defending key levels despite short-term retracements. As long as the price respects the channel’s lower boundary, the trend remains intact. If momentum persists, a push toward the upper boundary, around $91,000-$92,000, is within reach.
On The Upside
Immediate resistance stands at $85,450 and $86,310, with the descending trendline adding further pressure. A decisive breakout above these levels could open doors to higher targets, potentially extending towards the channel’s upper boundary. If Bitcoin clears $87,000, momentum may accelerate toward psychological levels near $90,000.
On The Downside,
Bitcoin is attempting to establish emerging supports around $83,600 to $86,250, which aligns with recent demand areas. Losing this range could expose the short-term support at $81,600-$81,400, a key area that protected price against the previous selling pressure.
Bitcoin is in a short-term ascending channel formation. Source: TradingView
