empty
InstaForex Loprais Team - Official participant of the Dakar rally
InstaForex Loprais Team - Official participant of the Dakar rally
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
29.04.2025 11:30 AM
BTC/USD Analysis on April 29, 2025
Open trading account Open demo account

This image is no longer relevant

The wave pattern on the 4-hour chart of the BTC/USD has become somewhat more complex. We observed a corrective downward structure that completed its formation around the $75,000 mark. After that, a fairly strong rally began, which could be the start of a new impulsive trend. At this stage, the first wave has formed, so a corrective wave 2 or b is expected. Afterward, Bitcoin's upward movement is likely to resume, at least as part of wave c.

The news background has supported Bitcoin for quite some time, fueled by a steady stream of updates about new investments from institutional traders, certain governments, and pension funds. However, Trump and his policies have driven some investors out of the market. Still, with the U.S. stock market and bond markets currently in decline, investors may turn to Bitcoin — which is independent of Trump's decisions. Once again, Bitcoin is becoming a "crisis hedge," so a new rally in the digital asset is possible.

The BTC/USD price has significantly increased over the past few weeks. I did not expect to see such strong growth, but it must be acknowledged that under current conditions, Bitcoin is serving as a capital preservation tool. Just think about it: stock markets have stopped falling, but they remain unstable and volatile. Few now expect Donald Trump to introduce new tariffs or raise existing ones — but we are, after all, talking about Trump. The U.S. President is highly unpredictable and may take actions that only worsen the economic situation.

Market participants are used to believing that a country's president or central bank chief should make decisions that promote economic growth, reduce unemployment, or lower inflation — in other words, serve the economy's and the state's best interests. Therefore, they don't expect moves that would clearly worsen the situation. However, Trump has shown he is capable of such actions. Of course, his decisions are often made under the premise of "things must get worse before they get better." But whether they will actually improve remains unknown. In the meantime, capital needs protection from devaluation now — while things are already getting worse.

That's why Bitcoin is once again in demand. In my view, it's too early to speak of a full-fledged new bullish trend, but even forming a corrective wave b before the next leg up is already proving problematic for the market. Bitcoin is also being strengthened by the falling U.S. dollar. As the dollar weakens, Bitcoin — priced in dollars — becomes more expensive. I wouldn't rule out the possibility that half of Bitcoin's recent gains are simply due to the dollar's decline. But in the end, does it matter why Bitcoin is rising? Given the current situation, I would still expect the formation of a corrective wave b and would look for buying opportunities there. But I still do not believe in a quick return to the $110,000 mark.

This image is no longer relevant

General Conclusions

Based on the BTC/USD analysis, I conclude that the formation of a bearish trend segment is ongoing. Everything currently points to a complex, multi-month correction. For that reason, I have previously advised against buying cryptocurrency — and now I recommend it even less. Given the current outlook, I consider searching for short opportunities to be the better option. At the moment, Bitcoin is likely in the process of forming a corrective upward wave set, which does not yet appear complete. Once wave c is formed, I would begin to look for selling opportunities with targets near the $75,000 level.

On the higher wave scale, a five-wave upward structure is visible. Currently, the market appears to be forming a corrective or full-fledged downward structure.

Core Principles of My Analysis:

  1. Wave structures should be simple and clear. Complex patterns are hard to trade and often require revisions.
  2. If you're uncertain about the market situation, it's better to stay out.
  3. There can never be 100% certainty about market direction. Always use protective Stop Loss orders.
  4. Wave analysis can be combined with other types of analysis and trading strategies.
Chin Zhao,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Fundamental analysis
DXY. The Dollar Holds Out Hope for a Recovery Today, the U.S. Dollar Index (DXY), which tracks the greenback's performance against a basket of major currencies, is in a phase of bullish consolidation after reaching an almost one-month high
Irina Yanina
11:31 2025-05-09 +02:00
1300
Technical analysis
Forecast for EUR/USD on May 9, 2025 On Thursday, the EUR/USD pair rebounded from the 76.4% Fibonacci corrective level at 1.1338, turned in favor of the U.S. dollar, and fell below the support zone of 1.1240–1.1265
Samir Klishi
11:24 2025-05-09 +02:00
1435
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Bitcoin spikes from $96 600 to $104 500 in 24 hours

Bitcoin has surged to $104,500, after trading at $96,600 just yesterday morning. This confident move above the $100,000 mark clearly signals a return of strong bullish momentum in the cryptocurrency
Jakub Novak 14:49 2025-05-09 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 9

Bitcoin has climbed above $100,000, while Ethereum is trying to consolidate above $2,000. After yesterday's sharp rally, which continued during today's Asian session, Bitcoin is now trading at $103,000, having
Miroslaw Bawulski 09:46 2025-05-09 UTC+2

Technical Analysis of Intraday Price Movement Ethereum Cryptocurrency, Friday May 09, 2025.

If we look at the 4-hour chart of the Ethereum cryptocurrency, it appears that the price movement is moving above the WMA (30 Shift 2) which also has a slope
Arief Makmur 06:27 2025-05-09 UTC+2

Technical Analysis of Intraday Price Movement Bitcoin Cryptocurrency, Friday May 09, 2025.

On the 4-hour chart of the Bitcoin cryptocurrency, the Stochastic Oscillator indicator can be seen to be in Overbought conditions and is now preparing to Cross SELL and break below
Arief Makmur 06:27 2025-05-09 UTC+2

Bitcoin: Who's Driving the Price Up — Powell, the U.S. Treasury, or Short Squeezes?

While stock indices remain stagnant, gold consolidates near its highs, and Bitcoin is once again capturing attention. The crypto market's flagship has approached the psychologically important $100,000 level
Ekaterina Kiseleva 00:28 2025-05-09 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 8

Bitcoin reached just below $100,000, while Ethereum hit $1,900. Such a major growth in the cryptocurrency market once again confirms its bullish outlook, which has been discussed quite
Miroslaw Bawulski 09:22 2025-05-08 UTC+2

Bitcoin on the Brink: Breakout or Reversal?

Bitcoin's price is hovering near a psychologically significant threshold, with market participants bracing for another upward surge or a sudden reversal that could erase short-term bullish expectations. More chart
Ekaterina Kiseleva 01:16 2025-05-08 UTC+2

Crypto market opens with buoyant growth

US stock index futures surged sharply at the opening of today's trading session on news that representatives from the US and China have resumed consultations on trade matters. Media reports
Jurij Tolin 14:14 2025-05-07 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 7

Bitcoin and Ethereum Show Further Growth Amid Positive Crypto Legislation News Bitcoin is currently trading at $96,700, having rebounded from a low of $93,400, while Ethereum has recovered
Miroslaw Bawulski 10:32 2025-05-07 UTC+2

Bitcoin Gathers Strength: The Market Prepares for the Next Wave

Bitcoin is trading in the $93,000–$94,000 range, about 0.5% below its recent local high of $97,900, recorded on May 2. Volatility has decreased, and the market seems
Ekaterina Kiseleva 01:23 2025-05-07 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.