Franklin Covey's 15-min chart sees KDJ Golden Cross and Bullish Marubozu.

In accordance with Franklin Covey's 15-minute chart, a golden cross in the KDJ indicator and a bullish marubozu pattern were observed on April 24, 2025 at 15:45. This suggests a shift in momentum towards an upward trend, with a potential for further price appreciation. The dominance of buyers in the market is likely to continue, indicating sustained bullish momentum.

Bitcoin (BTC) price continues to extend its gains, trading above $94,000 on Wednesday, following a two-day rally of 9.75% [1]. This upward momentum is driven by a combination of factors, including a surge in institutional demand and a reduction in trade war fears.

On Tuesday, US spot Exchange Traded Funds (ETFs) recorded an inflow of $936.43 million, the highest since January 17 [1]. Additionally, the exposure to Bitcoin CME futures climbed to 140,000 BTC, with premiums exceeding 9% for the first time since January 22 [1]. These developments suggest a strong appetite for Bitcoin among institutional investors.

The recent price rally can also be attributed to the easing of trade war fears. President Donald Trump's statements about not planning to fire Federal Reserve Chair Jerome Powell and his downplaying of 145% tariffs on China have helped to reduce market uncertainty [1]. This positive sentiment has bolstered the risk-on environment, leading to a rally in risky assets like Bitcoin.

Moreover, the CME futures exposure increase indicates improved sentiment and long-term demand. According to K33 Research, the Open Interest (OI) increased by 5,000 BTC over the Easter period, pushing open interest to three-week highs of 140,000 BTC [1]. While this marks an uptrend in CME leverage, exposure remains relatively soft compared to late Q4 to early Q1 levels.

The recent liquidation activity also supports the upward momentum. In the last 24 hours, a total of $316.83 million positions were liquidated for BTC, with 94.8% being short positions [1]. This wave of liquidations signals strong upward momentum, attracting more buyers and accelerating the Bitcoin price rally.

Bitcoin's price action is supported by technical indicators as well. A golden cross in the KDJ indicator and a bullish marubozu pattern were observed on April 24, 2025, at 15:45, suggesting a shift in momentum towards an upward trend [2]. The dominance of buyers in the market is likely to continue, indicating sustained bullish momentum.

In summary, Bitcoin's price extension is driven by a combination of institutional demand, easing trade war fears, and positive technical indicators. As long as these factors remain in play, Bitcoin's upward momentum is likely to continue.

References:

[1] https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-forecast-btc-bullish-momentum-builds-as-premium-exceeds-9-for-first-time-in-three-months-202504231128
[2] Franklin Covey's 15-minute chart and KDJ indicator data