As of May 3, 2025, Bitcoin (BTC) is trading at approximately $96,718 USD.
Analyzing the 1-hour chart, technical indicators suggest a bullish trend:
Bullish Pennant Formation: BTC/USD has formed a bullish pennant pattern, indicating potential upward momentum.
Breakout from Descending Channel: Recent price action shows a breakout from a descending channel, signaling a possible surge beyond resistance levels.
Support and Resistance Levels: Key support is observed around $92,000, while resistance levels are noted at $100,000 and $107,000. $BTC