As of May 6, 2025, Bitcoin (BTC) is trading around $94,246, experiencing a slight uptick of 0.16%. Despite recent gains, BTC faces significant resistance levels that could determine its short-term trajectory.

Current Market Snapshot

  • Price Range: BTC is oscillating between $90,000 and $97,000, struggling to maintain upward momentum.

  • Resistance Levels:

    • $95,000: A critical resistance point, previously acting as a support level.

    • $100,000: A psychological barrier and historical resistance.

    • $109,000: The all-time high reached in December 2024.

  • Support Levels:

    • $92,000: Current consolidation support zone.

    • $89,000: A significant support level from previous trading activity.

Technical Indicators

  • MACD: The Moving Average Convergence Divergence (MACD) has flipped bearish, indicating potential downward momentum.

  • Bollinger Bands: The midline of the Bollinger Bands is acting as a support near $92,000, suggesting a possible bounce if BTC tests this level.

  • Coinbase Premium Gap: A negative premium of -5.07 indicates reduced buying pressure from U.S. investors, reflecting cautious sentiment.

Whale Activity: Dormant Accounts Reactivate

Two dormant Bitcoin wallets from the Satoshi era have become active after over a decade, moving a combined $325 million worth of BTC. These movements coincide with upcoming Federal Reserve decisions on interest rates, suggesting potential market reactions to macroeconomic policies.

Expert Opinions

  • Anthony Pompliano: The crypto advocate suggests that the current market volatility presents a buying opportunity for less-experienced investors, advising them to consider entering the market as professional investors exit.
    Market Analysts: Some analysts warn that if BTC fails to break above $95,000, it could retest lower support levels, potentially leading to further declines.

Outlook

Bitcoin stands at a critical juncture. Breaking above the $95,000 resistance could pave the way for testing the $100,000 psychological level. However, failure to do so may result in a pullback to support levels around $92,000 or even $89,000. Investors should monitor technical indicators and macroeconomic developments closely to navigate the current market landscape.

#BitcoinAnalysis #BTCResistance #CryptoMarketUpdate

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📢Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your research before making investment decisions.