Bitcoin Technical Analysis: 5 APR 2025
Bitcoin is in a symmetrica triangle pattern. Source: TradingView
General View
While U.S. markets came under heavy pressure yesterday, Bitcoin showed resilience and closed the session on a bullish note. The short-term support zone played a critical role, absorbing downside pressure and halting further declines. Price action has since stabilized above this level, signaling renewed strength from the bulls. The fact that Bitcoin continues to respect this support, despite broader volatility, is a positive sign. As long as this zone holds, the potential for testing the descending resistance from the current consolidation structure remains firmly on the table.
On The Upside
Price will get to see first resistance getting hit at $84,400 to $84,750 levels. If Bitcoin continues to see bullish continuation above this resistance zone, then the upside is to further stretch towards $85,600 and $86,300, where the next wave of resistance is positioned.
On The Downside,
Immediate support lies between $83,000 and $83,400, which has emerged as a crucial intraday demand zone. The secondary supportive range for the session is at $82,650 to $82,400 levels. Meanwhile below that, the short-term support around $81,400 to $81,150 remains pivotal for the day.
Bitcoin showed surprising strength in yesterday’s session. Source: TradingView
