Bitcoin Technical Analysis: 30 APR 2025
Bitcoin is starting to break below the falling wedge pattern. Source: TradingView
General View
Bitcoin, after a strong rally, is now showing signs of losing momentum as it struggles to break above a pivotal resistance level. This zone continues to act as a major barrier for the bulls, and unless price finds clear acceptance above it, any upside move would turn into a dead cat bounce. Moreover, a rising wedge pattern has formed on the lower timeframes and is now beginning to break to the downside, adding further pressure and potentially signaling a worrying scenario for the bulls.
On The Upside
A confirmed breakout above $95,500 would be a significant development for the bulls as it would offer a bullish continuation head. However, for the session, there are now multiple intra-day resistances. The primary resistance is at the $93,550 level, followed by $94,050. If bulls can gain acceptance above this, then the upside can stretch towards $94,800.
On The Downside
Bitcoin is starting to lose the EMA-50 as well as the channel’s support. This is a worrying signal for the bulls. The primary support for the session is at the $93,050 level, followed by $92,800. If price loses this supportive zone, it’s likely to head further lower into the $92,200 and $91,500 levels next. This is where a positive reaction can be expected.
Bulls are facing continuous rejections from the $95,500 level. Source: TradingView
