As of May 4, 2025, Bitcoin (BTC) is trading at approximately $95,615, reflecting a slight intraday dip of 0.74%. The day's trading range has been between $95,615 and $96,497.
The market appears to be in a consolidation phase, often referred to as the "calm before the storm," with low volatility suggesting a potential for significant movement ahead . Technical indicators show a bullish momentum, with Bitcoin recently breaking out from a descending channel and pennant pattern . However, the Relative Strength Index (RSI) indicates strong price action, and the lower trading volume raises caution.
Key resistance levels to watch are at $100,000 and $107,000, while support levels lie at $92,000 and $85,000 . On-chain metrics, such as the On-Balance Volume (OBV) indicator, are signaling a bullish continuation trend for $BTC .
In summary, Bitcoin is exhibiting strong bullish momentum with potential for further upside, but traders should remain cautious due to lower trading volumes and monitor key support and resistance levels closely.
