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Source: TradingView & BingX
The 4-hour chart of BTC/USDT on April 24, 2025, shows Bitcoin experiencing a decline over the past day. Starting at $92,304.34 on April 23, the price has dropped to a real-time value of $92,346, marking a 0.97% decrease within the last 24 hours. This pullback follows a strong rally from $83,949.42 earlier in the week, with the price peaking at $94,696.05 before the recent downturn. On a 1-day perspective, this decline indicates a short-term correction within a broader bullish trend, as Bitcoin remains above the 200-day moving average of $87,041.11, suggesting the overall uptrend is still intact despite the recent dip.
Technical indicators on the 4-hour chart reflect the bearish momentum. The MACD (12,26,9) shows a value of 185.73, a DEA of 190.79, and a histogram at -154.00, indicating a bearish crossover and increasing selling pressure. The RSI (14) at 53.81 has retreated from overbought levels, now in neutral territory, while the KDJ (K: 84.61, D: 53.81) suggests a potential for further downside as momentum weakens. Volume spiked to 1,432.80K during the peak at $94,696.05, but has since dropped to 14.23K, reflecting reduced trading activity as the price corrects. On the 1-day chart, the price’s position above the 200-day moving average at $87,041.11 supports the bullish trend, but the recent pullback below $93,000 signals a pause in the upward momentum.
Looking ahead, Bitcoin’s short-term outlook is cautiously bullish with risks of further correction. On the 4-hour chart, the current price of $92,346 is testing support around $92,000, and a break below this level could lead to a retest of $90,000 or even $88,000. However, a recovery above $93,000 could push the price back toward $94,696.05. On the 1-day chart, the broader trend remains bullish as long as the price holds above $90,000, but a drop below this level might see a deeper correction toward $87,041.11. Traders should watch for $91,000 as a key support and $93,000 as immediate resistance in the near term.
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