Bitcoin Price Stabilizes Above $94K – Is Powerful Rally Toward $106K Brewing?

Bitcoin price stabilizes above $94K and confirms breakout to $106K as technicals align for a powerful bullish rally.
Bitcoin price stabilized above $94K on April 27, 2025, fueling optimism among traders and investors in Bitcoin investment. Is it setting up for another bullish rally? In a recent TradingView post, Crypto analyst Daniel stated that Bitcoin will break out to $106K, with both technical and fundamental factors. He also highlighted the growing macroeconomic concerns on inflation and market uncertainty, driving investors to view Bitcoin as a hedge against instability. With growing institutional interest in the crypto market, the BTC price is on the rise. Hence, crypto analyst Daniel is confident that Bitcoin will attain $106K in the near term. 

Let’s analyze the last 24 hours of BTC price movement to find whether it exhibits buy or sell momentum. 

Bitcoin Dips to $93,954 – April 26, 2025

On 26th April 2025, Bitcoin trading day started with notable price action. During the early trading session, Bitcoin began with a brief rise. But at 00:025 UTC, a doji bar, followed by a full-red candle, signaled a possible downtrend. Likely, Bitcoin resisted at $94,798 and experienced a sharp decline. Conversely, at 00:40 UTC, Bitcoin found support at $94,543 and experienced an uptrend. Substantially, at 01:35 UTC, Bitcoin resisted at $93,155 and began to experience a sharp fall. A Death Cross on MACD at 02:05 UTC affirmed this downtrend.

Chart 1 – Analyzed by Buvaneswari_L, published on TradingView, April 27, 2025

Conversely, at 05:15 UTC, Bitcoin found support at $94,516 and began to move up. But at 07:45 UTC, Bitcoin price movement resisted at $94,765 and began to drop. At 08:45 UTC, Bitcoin broke the support at $94,456, breached a breakout, and dropped to $93,954. A Death Cross on MACD at 07:50 UTC affirmed this downtrend. Subsequently, at 09:00 UTC, Bitcoin encountered an RSI Oversold situation, indicating a potential trend reversal. As expected, at 14:0 UTC, Bitcoin found support at $93,954, moved up, and entered the phase of the trading range. 

At 15:55 UTC, a pin bar, followed by a full-body red candle, signaled a potential downtrend. Likely, Bitcoin resisted at $94,375 and experienced a short-term fall. At 16:45 UTC, Bitcoin found support at $94,148 and experienced an uptrend. But at 18:05 UTC, Bitcoin resisted at $94,375, began to experience a short-term decline, and kept fluctuating. But at 20:55 UTC, Bitcoin found support at $94,081, moved up, and closed at $94,630.

Bitcoin Consolidates Above $94,000 – April 27, 2025

Following the preceding day’s close, on April 27, 2025, Bitcoin trading day began with a brief rise, demonstrating a bullish sentiment. But at 00:15 UTC, Bitcoin resisted at $94,980 and experienced a short decline. But at 01:05 UTC, Bitcoin found support at $94,852 and reached $95,115. At this level, a pin bar, followed by a full-body red candle, indicates a possible downtrend. Likely, Bitcoin resisted at $95,115 and experienced a sharp fall. At 01:35 UTC, Bitcoin broke the resistance at $94,375 and breached a breakdown, suggesting a strong bearish trend.

Bitcoin’s Next Move – Bullish or Bearish Sentiment?

Today, Bitcoin price movement is about to exhibit notable action, suggesting a strong bearish sentiment. At the moment, Bitcoin broke the key resistance at $94375, suggesting a bearish trend. If Bitcoin finds a support level, it could bounce back and reach a new high. However, if it fails to find a support level, Bitcoin could encounter further price decline.

Crypto analyst Daniel suggests that Bitcoin’s 106K breakout is imminent and offers profitable opportunities in the upcoming days. Furthermore, growing macroeconomic concerns and political uncertainty are shifting investors toward Bitcoin investments. Hence, it clearly shows that Bitcoin could build strong momentum in the near future. So, before making any move in the crypto market, investors should remain cautious and watch the key levels for confirmation signals. 

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