In the last hour, Bitcoin fluctuated in the range of $95,977 to $96,169 with a market capitalization of $1.90 trillion and a 24-hour trading volume of $29.88 billion. Trading occurred in a narrow intraday range from $93,333 to $96,244, as the market showed signs of both upward momentum and cautious consolidation.
The daily chart indicates a strong bullish movement that began in mid-April, which took Bitcoin out of a consolidation phase marked by the previous low around $74,400. This bullish movement pushed prices to the psychological resistance zone between $96,000 and $97,000. The increase in volume observed on green candles adds confidence to the upward movement, while the main support is established in the range of $88,000 to $90,000. Any correction to the $90,000–$92,000 zone, accompanied by renewed volume, may offer a favorable entry for long positions. However, a break below $88,000 on increased volume may indicate the beginning of a broader correction.
Bulls' Verdict:
Bitcoin remains in a supported upward trend across all major time frames, with all moving averages signaling a buy and bullish momentum observed on the daily chart. Although oscillators indicate a slightly overheated market, the structure remains favorable for further growth, especially on a breakout above $96,500 with volume support. As long as the price holds above key support levels around $91,500, bulls maintain control.
Bears' Verdict:
Despite the strong upward movement, signs of exhaustion on lower time frames and weakening momentum warn of a possible short-term correction. Oscillators are approaching overbought territory, and the inability to decisively exceed resistance at $96,500 may lead to a pullback to the support zone of $91,500–$90,000. A break below $88,000 on volume would sharply change the sentiment to bearish, signaling a possible trend reversal.