$BTC
As of May 1, 2025, Bitcoin (BTC) is trading around $94,993, reflecting a modest upward movement.
Key Resistance and Support Levels
Resistance Zone: $88,000–$91,000
Support Targets: $68,000 to $62,000
A decisive move above $112,000 would invalidate the current corrective outlook, indicating a potential bullish trend continuation.
Resistance Zone: $88,000–$91,000
Support Targets: $68,000 to $62,000
A decisive move above $112,000 would invalidate the current corrective outlook, indicating a potential bullish trend continuation.
Potential Pullback Before Rally
Recent analysis suggests that Bitcoin completed a five-wave rally from the $94,275 low. A three-wave pullback toward the 50–61.8% Fibonacci retracement zone, around $98,392–$97,406, is anticipated before further upside movement. Trading Strategy Insights
Wait for Confirmation: Traders are advised to wait for the completion of the corrective Wave C before entering new long positions.
Monitor Key Levels: Keep an eye on the $88,000–$91,000 resistance zone for potential reversal signals.
Risk Management: A break above $112,000 would suggest a bullish continuation, while a drop below $62,000 could indicate further downside risk.
