Bitcoin Technical Analysis: 11 APR 2025
Bitcoin sellers failed in breaking the price down multiple times. Source: TradingView
General View
Bitcoin has managed to reclaim lost ground after a few failed breakdown attempts from the support range. The sharp rebound from the support zone suggests that bulls are defending this area aggressively. Price is now back into a crucial congestion zone near $81K–$82K, where selling pressure previously emerged. If buyers continue to absorb supply here, a move higher toward the upper boundary of the descending channel remains possible. However, the larger trend remains within a broader downward channel, signaling caution unless a confirmed breakout occurs.
On The Upside
The immediate upside challenge lies in the $81K–$82K region, marked as emerging resistance. This level aligns with descending trendlines and previous sell-off points, making it a decisive area for bulls. A clean break and hold above this range could open the door toward the $83,500 followed by $85,000 level.
On The Downside
Key support remains in the $77,200 to $76,400 zone. This level has already shown strong buying interest, with multiple failed breakdowns. Unless this base is lost, sellers are now unlikely to cause any serious damage. Meanwhile, if this region is lost, Bitcoin could retest the lower bounds of the descending channel near $73,000 and possibly extend down toward $70,800.
Bitcoin is generally trending towards the downside. Source: TradingView
