$BTC Bitcoin Analysis – May 4th

Bitcoin attempted to break the $100,000 region this Saturday but failed. After reaching a high around $96,800, the asset formed a rejection candle, signaling exhaustion on the buying side.

This movement comes after BTC sought liquidity at the previously broken top of $74,500, from where it initiated the last leg of the uptrend. However, the recent breakout above $95,000 still seems premature. The market did not build a solid base before attacking the psychological barrier of $100,000, which increases the likelihood of a correction.

The region between $98,000 and $100,000 should remain a strong resistance. The price may pull back to the range of $88,000 to $90,000 before seeking a more structured bullish pivot.

The bullish bias remains, but today’s candle indicates that the market is still not mature enough to consistently break the $100,000 level. #BTCRebound