$BTC After a strong rebound at the end of April, Bitcoin is currently in a technical void; there are no significant resistance levels or clear support levels either above or below. Major fluctuations typically occur before such a price structure, determining the market for the next few weeks or even months. If momentum resumes, Bitcoin could soar sharply as there is no resistance zone nearby. However, conversely: if bullish forces lose control, the asset could drop sharply as immediate support is only around $89,000.
RSI is at 68, approaching the overbought threshold, momentum remains strong but may have peaked. However, volumes are still low, which is a worrying signal. If additional participation is lacking, this breakout could turn into a bull trap. Further volatility fluctuations will determine everything that follows.
If the price of Bitcoin breaks completely above $97,000 on high volumes, it could open a new round of increases, aiming to reach the psychological level of $100,000 and above. Conversely, if the price of Bitcoin falls below the range of $93,000-$92,000, it could drop to $89,000 or even lower, signaling the end of this round of increases and potentially triggering a market-wide correction.
Bitcoin is on the edge of a tense market. With no sign of insurance, the next major volatility—whether it rises or falls—will not just be another increase but will define the boundaries of the next phase of the cycle. Don't waste time, as this calm won't last long.
With constant changes in the market, we need to closely monitor market signals to take advantage of new entry opportunities in time.
