Bitcoin (BTC) is poised for a price surge, is it time to buy?

Updated

April 30, 2025

Gambar Bitcoin (BTC) is poised for a price surge, is it time to buy?

Jakarta, Pintu News – Bitcoin is currently consolidating above the $94,000 zone, showing positive signs that might take it past the key resistance at $95,500. With the price stabilizing above $93,500, Bitcoin (BTC) started a fresh rise. This rise managed to push the price past the $94,000 and $94,200 resistance levels, giving investors a strong signal of further upside potential.

Technical Analysis: Bitcoin (BTC) Bullish Momentum

After successfully breaking through the $95,200 resistance, Bitcoin (BTC) price briefly reached a new high of $95,488 before making a downward correction. This correction did not last long as buyers became active again near the $93,500 support. Currently, Bitcoin (BTC) is trading above $94,200 and the 100 hourly simple moving average.

There is also a bullish trend line forming with support at $94,200 on the hourly chart of the BTC/USD pair. With this strong support, the immediate resistance is near $95,250, followed by the key resistance at $95,500. If Bitcoin (BTC) manages to break $95,500, it could pave the way to the next resistance at $96,250. A close above this level would probably push the price even higher, with the potential to reach $97,500 and possibly even $98,800 if the bullish momentum continues.

Also Read: XRP Surges to $2.32: Can it Survive Crypto Whale Selling Pressure?

Potential Correction: Bitcoin (BTC) Price Downside Risk

However, if Bitcoin (BTC) fails to break the $95,500 resistance zone, there is a possibility of another downward correction. Immediate support can be found near $94,200 and the trend line. The next major support is at $93,500. If the decline continues, Bitcoin (BTC) might look for support at the $92,900 zone, and if the selling pressure continues, the price could drop to the major support at $91,200 in the short term.

Technical Indicators: Positive Signals from MACD and RSI

The Moving Average Convergence Divergence (MACD) indicator is currently showing increased momentum in the bullish zone, which supports the prospect of further price gains. Meanwhile, the Relative Strength Index (RSI) for BTC/USD is now above the 50 level, signaling strength on the buyers’ side. The key support levels are at $94,200, followed by $93,500, while the key resistance levels are $95,250 and $95,500.

Conclusion: Investment Opportunities in Bitcoin (BTC)

With technical analysis showing bullish signals, it may be the right time for investors to consider Bitcoin (BTC) as an investment asset. However, it is important to pay attention to resistance and support levels as rapid price fluctuations can occur in the cryptocurrency market.

Also Read: Is Bitcoin Miner’s Sales Hold a Good Sign?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.