Daily Trading Analysis: A Detailed Breakdown of Market Momentum BTC 1st April 2025
Following up on yesterday’s insights, we’re diving into Bitcoin’s price action on April 1, 2025. After a volatile session influenced by Tether’s $735 million buy, today’s market showed continued tension between buyers and sellers. We’ll break down the 30-minute chart for short-term dynamics, analyze the daily chart for broader trends, and wrap up with key takeaways for traders navigating this momentum.
30-Minute Analysis
The 30-minute chart revealed a challenging start to the day. After yesterday’s rejection at the $84.3k resistance, Bitcoin couldn’t muster the strength to break through this level pre-market. Instead, the price sold off, finding support at $82.8k during the New York session. This support aligned with the 200 EMA, a critical level that held firm, but the price struggled to push higher. Throughout the session, heavy resistance at $85k—also a trendline rejection point—capped any upside attempts. By the close, Bitcoin had retested the $83.9k support level, which also coincided with the 200 EMA, showing its significance as a battleground.
The price action suggests a lack of conviction. While the $85k level acts as a strong resistance, the $83.9k support indicates buyers are still in the game. However, short sellers at $85.6k are likely eyeing opportunities to push the price down, especially with a large chunk of liquidity resting below the 200 EMA, as indicated by CoinGlass data. This liquidity could attract sellers to drive the price lower, though buyers have room to maneuver if they can defend the 200 EMA and break above $85k.
Daily Analysis
On the daily timeframe, Bitcoin continued to show strength after yesterday’s strong move, which was fuelled by significant news. However, the price failed to break out of the current area of interest, facing resistance at both the 200 EMA and a descending trendline. This trendline, now validated with three touchpoints, adds weight to the bearish pressure. The day’s candlestick formed a wedge pattern, a setup that often signals a breakout. The direction of this breakout—whether bullish or bearish—will be crucial for determining Bitcoin’s next move.
Price action also showed a strong pullback, reflecting indecision in the market. The failure to break above the 200 EMA or the descending trendline suggests that sellers are still in control at higher levels. For bulls to regain momentum, they’ll need to see a decisive close above the 200 EMA and the trendline, ideally with strong volume to confirm the move. On the downside, a break below the $82.8k support could target the liquidity pool below the 200 EMA, potentially driving the price lower.
Summary
Today’s analysis highlights a market at a crossroads. The 30-minute chart showed Bitcoin struggling to break the $85k resistance, with support at $83.9k and the 200 EMA holding for now. On the daily chart, a wedge pattern and a validated descending trendline point to an impending breakout, but the direction remains uncertain. Traders should watch for a close above the 200 EMA and trendline for bullish confirmation, or a drop below $82.8k for bearish momentum. Stay tuned for tomorrow’s update as we track Bitcoin’s next move!
