- Bitcoin holds strong above its ascending trendline, with repeated tests of $95,400 resistance signaling potential for a breakout continuation.
- Despite short-term pullbacks, BTC’s structure remains bullish as higher lows and rising volume support upward price momentum toward $98,000.
- A healthy correction to the $85K–$90K zone aligns with key moving averages, offering a solid base for BTC’s long-term bullish continuation.
Bitcoin (BTC) stands in a favorable position as strong levels of resistance show weakening. Early May 1, BTC traded at $94,867, barely down 0.77%, but still holding above much-praised ascending trendline support. The setup within the market still remains bearish for the bulls, with recent withdrawals from around the $97,000 range.
BTC Maintains Strong Trendline Support
BTC/USDT price action from April 20 to May 5 indicates consolidation within a defined range of $90,000 and $97,400. The price formed higher lows starting from April 22, which created a firm rising support trendline. There was repeated testing of resistance at $95,400, indicating consistent seller pressure.
However, repeated attempts have weakened this level. A decisive breakout above $95,400 occurred on April 28 with a notable spike in trading volume. The bullish momentum briefly pushed prices near $97,000 before a pullback on April 30. Still, BTC found support at $94,200, maintaining its structure above the ascending trendline. Green candles emerged near $94,500, reflecting a potential bounce. This reinforces optimism that BTC could retest the $98,000 level soon.
Daily Chart Suggests Pullback Zone Around $85K–$90K
Zooming out, the daily chart shows BTC’s broader movement from October 2024 to early May 2025. The price climbed from $65,000 in November to over $107,000 in January. A correction followed in February, dragging BTC into the $77,000–$87,000 range during March.
However, April saw renewed bullish energy. A breakout above both the MA200 and EMA200 reignited momentum. Consequently, prices surged to the current $93,883 level. The data highlights the $95,500 area as a “Key level to Regain.” Additionally, moving averages remain upward-sloping. The MA365 rests near $77,000, while the EMA200 and MA200 hover between $83,000 and $85,000. These provide solid support if a pullback occurs.
Crypto analysts suggest a healthy correction into the $85,000–$90,000 zone could boost long-term strength. This region aligns with the MA200 and EMA200 levels. Hence, a pullback before continuation remains a valid bullish scenario.
