- Bitcoin holds firm above $92K support after rebounding from $75K as bullish momentum strengthens across charts and technical indicators.
- BTC/SPX breakout and MACD bullish cross confirm continued strength as Bitcoin eyes resistance at $98K following April’s reversal.
- Bitcoin forms a solid bullish structure within its ascending channel as bulls defend critical support and prepare for another leg up.
Bitcoin (BTC) continues to impress with strong technical signals confirming its bullish momentum. After bouncing from April’s $75,000 low, BTC surged into the $92,000–$98,000 target zone. As of May 1, 2025, BTC trades at $95,242.40, up 0.50%, and holds firmly above the $92,000 pivot. This level now defines the bullish-bearish line. Holding above it suggests sustained upside, while any drop below may invite further selling pressure.
BTC’s breakout from the descending broadening wedge pattern on the Bitcoin/S&P 500 (BTC/SPX) ratio chart adds conviction to the bullish case. This ratio now reads 17, reflecting Bitcoin’s growing strength over equities. Historical patterns show each breakout from similar formations led to major crypto rallies. Additionally, the recent 3-day MACD bullish cross confirms improving momentum.
Strong Recovery Sets New Bullish Structure
The recent rally comes after BTC dipped to yearly lows near $76,000 in March. A powerful reversal followed in April, with price reclaiming the $92,000 zone. From there, bulls pushed the price higher, retesting the $95,000–$98,000 resistance band.
Besides, Bitcoin still trades within a longer-term ascending channel formed between October and December 2024. That structure saw BTC hit a $107,000 peak in late December before correcting sharply. The decline ended with a double-bottom pattern, marking the $75,000–$76,000 area as a strong support floor.
BTC vs. SPX Chart Hints at More Upside
The BTC/SPX chart, stretching from 2023 through 2025, paints a clearly bullish picture. Multiple descending channels, followed by upside breakouts, confirm a repeatable bullish pattern. The current breakout marks the fourth major upward leg since 2023.
Moreover, momentum indicators support the upward trajectory. Green histogram bars and MACD crossovers suggest positive energy flowing into BTC. Hand pointer icons on the indicator highlight key reversal points that matched bullish breakouts. Consequently, BTC appears poised for higher prices as long as it remains above $92,000.
