Bitcoin analysis, April 22, 2025
Bitcoin on TF M15 In terms of candlestick patterns and price action, the sharp breakout upwards was preceded by a large, solid bullish candle, indicating strong buying momentum. After the spike, the price formed a flag pattern or a small channel as a consolidation, before continuing to rise. In the latest peak area, there are several candles with long upper shadows, indicating temporary selling pressure, but there has been no confirmation of a reversal. Overall, the price action structure shows higher highs and higher lows ? a characteristic of a healthy uptrend.
If the price retracements to the support area around 87000?86500 (approaching the 200 MA) and forms a reversal pattern such as a bullish engulfing, pin bar, or morning star, this could be a safer buy opportunity with better risk/reward.