Technical analysis by ScottMelker about Symbol BTC on 4/16/2025

Bitcoin continues to struggle with the 50-day moving average, currently acting as dynamic resistance. Price is hovering just below it, unable to break through cleanly, and the 200 MA remains overhead, adding additional pressure from above.Market structure remains bearish for now – we’re still printing lower highs and lower lows. That structure won’t flip until Bitcoin can break decisively above $88,804, the last significant swing high from late March. A close above that level would mark a higher high and potentially signal a trend reversal.Until then, it’s just a relief rally within a broader downtrend. The bulls need to reclaim key levels with conviction – otherwise, this could be a pause before another leg lower.