May 4th, 2025
$BTC is trading around the $95,700 - $96,300 USD range, showing a slight decrease over the last 24 hours after a minor upward trend in the preceding two days.
* Resistance Levels: The $95,000 level has acted as a resistance recently. The significant psychological barrier of $100,000 is also a key level to watch. Some analysts believe breaking this could lead to a strong rally towards the all-time high around $109,000 USD.
* Support Levels: Immediate support is seen around $96,100, followed by more critical levels at $95,600 and $95,400. A break below these could indicate further downside.
* On-Balance Volume (OBV): Some analysts point to the OBV indicator breaking out, suggesting that buying volume is outpacing selling, which could be a bullish signal.
* The taker buy/sell ratio on Binance indicates a preference for buy orders, suggesting a bullish sentiment among traders.
* Some analysis suggests Bitcoin's price movements are correlated with changes in stablecoin supply.
* Some long-term indicators show bearish divergence, which could be a sign of weakening momentum and potential trend reversals, similar to previous market cycle tops..
* Bullish Scenario: If Bitcoin can decisively break and hold above the $97,000 - $98,000 resistance zone and then overcome the $100,000 psychological level, we could see a significant upward move towards the all-time high and potentially beyond. Positive news, strong ETF inflows, and continued positive market sentiment would fuel this scenario.
* Bearish Scenario: Failure to break the $100,000 resistance, coupled with negative news or a shift in market sentiment, could lead to a pullback. Breaching the key support levels around $95,600 could trigger further selling pressure, potentially leading to a more significant correction.
* Consolidation: Bitcoin might continue to trade within a range between key support and resistance levels for some time, consolidating its recent gains before making a more decisive move.
Do your own research and not rely solely on any predictions.
