Bitcoin's Bullish Momentum Gains Strength With 70% Rally Potential

Bitcoin's price movements have been under intense scrutiny by analysts and investors, with recent technical indicators pointing towards a bullish trend. On April 20, 2025, the Moving Average Convergence Divergence (MACD) indicator displayed a bullish crossover, which preceded a breakout and confirmed the positive momentum. This crossover suggests a potential 70% rally towards $140,000, with the $89,000 breakout level being closely monitored for full bullish confirmation. The Relative Strength Index (RSI) is currently at 63.51, indicating that bullish momentum is gaining strength, while the MACD also shows a bullish crossover, with both lines above zero.

Additionally, Bitcoin has cleared both a descending wedge and a bullish ABCD formation, further bolstering the bullish outlook. The MACD is tilting upward, and the RSI is at 55.78, indicating a neutral to bullish sentiment. The 50-day Simple Moving Average (SMA) is at $0.502663, suggesting a positive price trend in the medium term. The 14-day RSI is at 55.78, indicating that Bitcoin is currently neutral. The Fear & Greed Index stands at 72, which means that investors’ sentiment is in the so-called Greed zone. The current sentiment is bullish, with 14 technical analysis indicators signaling bullish signals, and 4 signaling bearish signals.

The 50-day SMA indicates the average price of Bitcoin over a 50-day period. A rising 50-day SMA indicates a positive Bitcoin price trend in the medium term, while a dropping SMA indicates the opposite. The 50-day SMA is calculated by adding together Bitcoin’s closing prices in the last 50 days, and dividing the total by 50. The RSI is used to gauge momentum in the market. The readings produced by the RSI indicator range from 0 to 100, with 30 and 70 being important levels. An RSI reading under 30 indicates that the asset is currently undervalued, while an RSI reading above 70 indicates that the asset is currently overvalued.

The Fear & Greed Index combines several market and investment indicators, including 30- and 90-day volatility, social media activity, and Google Trends data. The Fear & Greed Index can be a useful measure of Bitcoin investors’ sentiment, and is based primarily on Bitcoin-related market data. Overall, the Fear & Greed Index indicates the current sentiment of the market, as follows: 0-24 extreme fear, 25-49 fear, 50 neutral, 51-75 greed, and 76-100 extreme greed. Some traders interpret a prevalent negative sentiment as a good buying opportunity, while a prevalent positive sentiment can be a good opportunity to sell.