Bitcoin climbed toward the $95,000 level on April 23, buoyed by strong inflows into spot BTC ETFs and an improving macroeconomic backdrop in the U.S. Investor sentiment has notably turned optimistic, with Farside Investors reporting substantial net inflows — $381.3 million on April 21, followed by a massive $912.7 million on April 22. On the technical front, the 20-day EMA is beginning to trend upward, and the RSI nearing the overbought zone hints at strong bullish momentum. All signs suggest that buyers currently have the upper hand, with upward continuation likely if momentum sustains.
BTC-USDT Daily Chart:
BTC, after making an all-time high of $109,588, started to trade in a downtrend and corrected by almost 32%, making a low of $74,508. The asset formed a ‘Long-Legged Spinning Top’ candle near the key support of $73,500 (indicating indecision in trend), and the price bounced up to $86,000. Following this move, BTC began consolidating and traded in a range between $83,000 and $86,000. The asset eventually gave a breakout above the range with strong volumes and rallied up to $94,696. BTC faces strong resistance at $100,000 and $110,000, while $90,000 and $73,500 will act as strong support levels.
Unravel everything that you need for your crypto journey via ZebPay blogs. Get started today and join 6 million+ registered users on ZebPay!
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Each investor must do his/her own research or seek independent advice if necessary before initiating any transactions in crypto products and NFTs. The views, thoughts, and opinions expressed in the article belong solely to the author, and not to ZebPay or the author’s employer or other groups or individuals. ZebPay shall not be held liable for any acts or omissions, or losses incurred by the investors. ZebPay has not received any compensation in cash or kind for the above article and the article is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
