On May 1st, Bitcoin broke through the resistance level of 95,000, but the bulls failed to maintain the upward momentum, and the price retreated from the high of 97,895 on May 2nd. The current price has once again surpassed 95,000, the 20-day EMA (92,106) continues to rise, and the RSI is in the positive zone, indicating bullish dominance. If the price stabilizes and bounces between 95,000 and the 20-day EMA, the bulls may push BTC/USDT towards 100,000.
🔥 Conversely, if the price falls below and closes beneath the 20-day EMA, a breakout below 95,000 may be a bull trap, increasing the risk of a drop towards the 50-day SMA (86,682).
The 4-hour chart shows that the moving averages are flattening, the RSI is near the midpoint, and momentum is weakening.
If it breaks below 95,000, it may test 92,800, and then down to 91,660, with a break below the latter leading to further declines to 86,000.
