Bitcoin Price Consolidates Above Key EMA Levels: What Comes Next for BTC?
The post Bitcoin Price Consolidates Above Key EMA Levels: What Comes Next for BTC? appeared on BitcoinEthereumNews.com.
Bitcoin is testing key resistance levels at the 50 and 200-day EMAs, signaling potential breakout. A whale withdrew 1,500 BTC ($128 million) from OKX, impacting liquidity as Bitcoin gained momentum. Bitcoin, the world’s first and leading cryptocurrency by market cap, has been recording an uptrend after a reclaim from last week’s low of $74K range. Over time, Bitcoin has struggled to invite bulls, with the current trend showing a positive momentum. Tracking the market performance, it is notable that BTC trades at a price value of $85,502, recording an uptick of 1.33% in just 24 hours. Notably, the market cap now reads at $1.69T, up by a similar percentage recorded in its price value adjustments. However, Bitcoin’s daily trading volume has recorded a dip, down by 1.44%, amounting to $29.36 billion. The current trajectory is under the watch of market analysts eyeing whether the bullish move will continue or a reversal will be invited. Bitcoin Technical Analysis: Can BTC’s EMA Test Lead to Upside? According to an observation by Lark Davis, it is notable that Bitcoin has made another attempt at a key trendline level. The price is approaching resistance formed by the 50 and 200-day EMAs (Exponential Moving Averages) with an ongoing consolidation above these EMAs, signaling potential move toward a breakout. The MACD (Moving Average Convergence Divergence) has shown a shift in direction suggesting increased bullish pressure. The histogram reveals a growing positive momentum, confirming the shift in the market’s dynamics. Bitcoin’s price action has been moving within a narrow range, with the 50-day EMA acting as immediate support and the 200-day EMA above. A sustained break above the trendline and 200-day EMA could signal further upside potential in the short term. BTC Whale Transaction and Current Market Performance The ongoing bullish movement comes at times when the…
Filed under: News - @ April 15, 2025 1:22 pm