Bitcoin Technical Analysis: 20 APR 2025
Bitcoin continues to struggle off the challenging zone. Source: TradingView
General View
Since mid-March, Bitcoin bulls have been repeatedly challenging a key resistance zone but have failed to secure a session close above it. The challenging zone between $84,000 and $88,000 continues to act as a major barrier, restricting every breakout attempt over the last few weeks. Despite this, buyers have shown remarkable resilience, defending their strength and negating any chances of profit-taking.
On The Upside
The primary resistance range remains the $84,000–$88,000 zone. However, for the session, there is intra-day resistance at $84,600 followed by $85,500. Additionally, bullish consolidation below the resistance still favors bulls, however, this consolidation shouldn’t be too long, otherwise it would weaken the momentum and eventually trigger profit-taking.
On The Downside
Failure to break above the resistance could keep Bitcoin stuck in its current sideways pattern, with support coming in near the $84,000 and $83,750 levels. Meanwhile, below these intra-day support levels, Bitcoin has a stronger wave of support at the $82,800 to $82,000 level. These are important supports and levels that bulls must defend to negate any bearish developments.
Bullish breakout of the descending trendlines could be a game changer. Source: TradingView
