Bitcoin Battles 200-Day EMA, Eyes $91.2K as Key Hurdle

Written by Sahil Mahadik

Edited by Harsh Chauhan

Last Updated April 14, 2025

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Bitcoin is back at $84,000 with an intraday recovery of 1.33%, currently trading at $84,823 with a 24-hour high at $85,496, sustaining above the 23.60% Fibonacci retracement level.

Bitcoin struggles to drive the recent breakout rally. Will this bullish struggle lead to a longer consolidation, or is the $91,000 mark inevitable? Let’s find out.

Bitcoin Price Analysis: BTC Eyes $91K After Bullish Reversal

In the daily chart, the BTC price trend showcases a quick bullish reversal from $76,722. The recovery line surpasses the overhead resistance trend line and the 23.60% Fibonacci retracement level.

BTC price chart — Bitcoin Price Analysis

Floating above the recently surfaced resistance support level at $83,308, BTC is preparing to take off. However, the bullish recovery faces opposition from the 200-day exponential moving average line acting as the dynamic resistance.

With the bullish recovery, the Bitcoin price is struggling to avoid a death cross within the 50 and 200-day EMA lines. However, the recovery run is likely to continue to the 38.20% Fibonacci retracement level near the 100-day EMA line.

This crucial resistance is priced near $87,700. Supporting the bullish chances, the recent breakout run resulted in a positive crossover in the MACD and Signal lines.

In case of a bullish breakout, the BTC price trend will likely continue to the 50% Fibonacci level at $91,200. On the flip side, the crucial support for Bitcoin remains at $83,300.

Will High-Leveraged Long Positions Fuel BTC Recovery?

As the broader market conditions remain uncertain despite the recent breakout, the Bitcoin open interest drops by 1.69% to $56.94 billion. This reflects a minor decline in the trader’s interest in Bitcoin derivatives, while the funding rate remains positive.

Currently, it remains at 0.0063%, maintaining an overall optimistic viewpoint. Notably, in the past 12 hours, thelong positions in Bitcoin derivatives have witnessed a recent spike.

The long positions account for 51.14%, driving the long-to-short ratio to 1.0467%. Thus, the derivatives traders anticipate a bullish recovery in Bitcoin.

Written by Sahil Mahadik

Sahil Mahadik is a market writer at CryptoNewsZ with over three years of experience. He tracks price action and market trends in the crypto world. His work has appeared in major outlets like Pepper Content. Sahil specializes in technical analysis. He uses tools like on-chain data and chart patterns to find trading signals. He is also covering long-form price predictions. Sahil writes popular guides on the best altcoins to invest in and top crypto picks for long-term growth. As an active trader, he uses his hands-on experience with DeFi tools and exchanges to give readers simple, data-backed advice.