Bitcoin at $85,631 recorded an intraday recovery of 1.24%. This shows a bullish continuation after a 1% price rise on Monday.
this week, Bitcoin They created two consecutive bullish candles, surpassing the 200-day EMA line by $85,000. With this new recovery rally, is Bitcoin heading for a breakout at the $87,000 level? Let’s look into it.
Bitcoin (BTC) price analysis
On the daily charts, BTC price trends outperform the local resistance trend. Additionally, Bitcoin’s V-shaped recovery, starting with the $76,000 mark, ended the long pullback phase.
Bitcoin Price Chart
Currently, Bitcoin’s trendline breakout rally faces opposition at $85,500 from the 50-day EMA. A bullish struggle continues as buyers struggle with extended rallies to avoid death between the 50 and 200-day EMA lines.
Currently, BTC holds the ground at a 23.60% Fibonacci level, close to $83,000. Additionally, a nearly 2% pullback on Sunday followed by a bullish recovery highlights a reversal from the $83,000 level after the retest.
As the recovery trend gains momentum, the MACD and signal lines provide a positive crossover. Furthermore, new waves of bullish histograms of momentum indicators reflect the high possibility of bullish extensions.
The uptrend aims to challenge $87,673 for a 100-day EMA near the Fibonacci level of 38.20%. This exists as an immediate resistance to Bitcoin’s price recovery.
For bullish breakouts, the uptrend could scale to 50% Fibonacci level, close to $91,201. Conversely, key support remains at the $83,000 mark, consistent with the 20-day EMA line.
Facility Support Bitcoin Resurface
A few days after a 90-day suspension in the direct war, US institutional support has resurfaced for Bitcoin. April 14th, US Daily Total Net Inflow Bitcoin Spot ETF Most of the ETFs remained on the sidelines, but at $1.47 million.
With the Net Zero flow, BlackRock and Fidelity witnessed a fork flow. BlackRock recorded an inflow of $3,672 million, while Fidelity recorded an inflow of $35,250,000.
A seven-day streak of consecutive leaks ends with a Bitcoin Spot ETF. Currently, Bitcoin ETF holds a total of $946.9 billion.
The Whale added $467 million in BTC yesterday
According to a recent tweet by IntotheBlock, $467 million worth of Bitcoin was withdrawn from the exchange yesterday. This indicates a significant level of accumulation by key investors.
Yesterday, more than $467 million in $BTC was withdrawn from the exchange, indicating a significant level of accumulation. pic.twitter.com/cctqb21zlw
– Intotheblock (@intotheblock) April 15, 2025
As accumulation begins, the growing demand for Bitcoin could increase the market crisis.
