BTCResistance

BTC/USD consolidates under yearly open, eyes dip to $87K–$90K before next leg up

Summary

Bitcoin (BTC/USD) on April 24 consolidated just below its yearly open near $93,500, holding six-week highs amid lingering US–China trade war concerns . Equities rallied—S&P 500 climbed over +1% despite “no news,” suggesting markets may be front-running a bullish catalyst . Crypto analysts like Michaël van de Poppe call a slight pullback “fairly normal” after a massive breakout, anticipating buyers to defend support and press toward a new all-time high (ATH) . Others forecast a retest of $92,000 and even $87,000 liquidity pools before sustained upside resumes . Liquidation heatmaps reveal a dense cluster of leveraged shorts around $93,600, setting the stage for a potential short squeeze if BTC can breach resistance above $93K–$94K .

BTC/USD reclaimed its six-week highs but stalled just under its yearly open (~$93,500) on April 24, consolidating gains from a recent rally .
Data from Yahoo Finance shows Bitcoin trading in the $92,000–$94,000 range—its strongest levels since early March .
“The market is now up over +1% on the day on no news at all,” noted The Kobeissi Letter, which highlighted that headline-driven volatility has shifted to equities .
“Fairly normal to have a slight correction here on Bitcoin as it's just had a massive breakout,” tweeted crypto analyst Michaël van de Poppe, predicting buyers will step in and drive BTC toward a new ATH .
“A dip to 88k would be lovely,” popular trader Inmortal quipped, suggesting a deeper support test may precede the next up-leg .
Rekt Capital observed that BTC’s weekly closes relative to $93,500 could mirror mid-2021 behavior—potentially dipping to the $87,000 EMA before resuming its breakout .
Bulls still have their eyes on the yearly open level just above $93,000; holding this zone could trigger a leveraged shorts flush if price presses higher .
Liquidation heatmaps show leveraged shorts clustering around $93,600–$94,500, creating fertile ground for a sharp short squeeze on a decisive break .
Meanwhile, CoinGlass data confirms the largest concentration of open-interest liquidations sits at ~$93,600, underscoring the stakes at this level .
Earlier in the session, a whale dubbed “Spoofy” dismantled a $90,000 ask-wall on major exchanges—removing a key barrier for bulls .

Prompts

🤔 Will you buy the dip near $92K, or wait for a breakout above $94K?

💬 Which price zone—$88K or $87K—do you think BTC will test first?

Educational Insights

Yearly Open: The price at which BTC began the calendar year; often acts as psychological support/resistance.

Liquidation Heatmap: A visual tool aggregating open-interest clusters to show where forced margin liquidations could occur.

Market Analysis

Bullish Case: A clean daily close above $94,000 would likely trigger a wave of short-covering, fueling a rapid ascent toward $100K.

Bearish Risk: Failure to reclaim $93,500–$94,000 on solid volume increases the odds of a retracement to $92,000 and possibly down to the $87,000–$88,000 areas.

Macro Factor: Ongoing US–China trade tensions continue to sway risk appetite, even as equities chew up headlines.
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As of May 6, 2025, Bitcoin (BTC) is trading around $94,246, experiencing a slight uptick of 0.16%. Despite recent gains, BTC faces significant resistance levels that could determine its short-term trajectory.
Current Market Snapshot
Price Range: BTC is oscillating between $90,000 and $97,000, struggling to maintain upward momentum.Resistance Levels:$95,000: A critical resistance point, previously acting as a support level.$100,000: A psychological barrier and historical resistance.$109,000: The all-time high reached in December 2024.Support Levels:$92,000: Current consolidation support zone.$89,000: A significant support level from previous trading activity.
Technical Indicators
MACD: The Moving Average Convergence Divergence (MACD) has flipped bearish, indicating potential downward momentum.Bollinger Bands: The midline of the Bollinger Bands is acting as a support near $92,000, suggesting a possible bounce if BTC tests this level.Coinbase Premium Gap: A negative premium of -5.07 indicates reduced buying pressure from U.S. investors, reflecting cautious sentiment.
Whale Activity: Dormant Accounts Reactivate
Two dormant Bitcoin wallets from the Satoshi era have become active after over a decade, moving a combined $325 million worth of BTC. These movements coincide with upcoming Federal Reserve decisions on interest rates, suggesting potential market reactions to macroeconomic policies.
Expert Opinions
Anthony Pompliano: The crypto advocate suggests that the current market volatility presents a buying opportunity for less-experienced investors, advising them to consider entering the market as professional investors exit.
Market Analysts: Some analysts warn that if BTC fails to break above $95,000, it could retest lower support levels, potentially leading to further declines.
Outlook
Bitcoin stands at a critical juncture. Breaking above the $95,000 resistance could pave the way for testing the $100,000 psychological level. However, failure to do so may result in a pullback to support levels around $92,000 or even $89,000. Investors should monitor technical indicators and macroeconomic developments closely to navigate the current market landscape.

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📢Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your research before making investment decisions.

$BTC

Bitcoin has been following the anticipated trajectory on the charts. After hitting a high of $102.7k, it saw a pullback to around $97k. Should the downtrend persist, we could be in for a larger market correction, which could very well be the final adjustment before the next big move.
For a sustainable bullish rally to take shape, BTC needs to surpass its previous all-time high and overcome the current resistance trendline. Until such a breakout occurs, there's a considerable risk of further rejection in the near term.
Exercise caution when trading and stay alert to market shifts! 🚀

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