Bitcoin Resumes Bullish Trend After Bearish Retracement

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‎BTCUSD Market Analysis- April 28th

‎Bitcoin has entered a new phase in its market cycle, as recent Bitcoin price actions signal the continuation of its broader bullish trend after a healthy corrective retracement.

Bitcoin (BTCUSD) Key Levels

‎‎Support Levels: $74500.00, $48900.00
‎Resistance Levels: $100000.0, $126000.00‎

‎‎BTCUSD Long-Term Trend: Bullish

‎‎Bitcoin (BTCUSD) has officially resumed its bullish trend following the conclusion of a significant bearish retracement. The previous bullish phase on the daily timeframe began after a major bullish break of structure in November 2024. This breakout triggered a substantial rally, propelling Bitcoin to the highly anticipated $100,000 mark and slightly beyond.
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‎However, entering early 2025, BTCUSD experienced a strong bearish momentum, marking the onset of a corrective retracement phase. This bearish correction persisted through the subsequent months, culminating in April when price action formed a major low.
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‎At present, Bitcoin has completed a bullish reversal after a strong rejection from the $74,500.00 demand zone. The daily Moving Average supports this reversal, showing a bullish crypto signal as the price now trades above the indicator. This shift suggests the beginning of a fresh bullish leg, with expectations of higher price targets being achieved as momentum builds.

‎‎BTCUSD Medium-Term Trend: Bullish

‎‎Mirroring the daily timeframe, the 4-hour chart also reflects a bullish sentiment. Bitcoin has started to ascend towards the $100,000 supply level, reinforcing the larger trend direction. The 4-hour Moving Average confirms this bullish bias, as the price continues to trade above it.
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‎While the prevailing momentum remains bullish, the 4-hour Relative Strength Index (RSI) currently signals overbought conditions. This suggests the possibility of a short-term pullback. Such a pullback, if it occurs, is expected to be temporary—likely intended to fill a nearby 4-hour Fair Value Gap—before price resumes its bullish advance.

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