Continuation Could Lead To Higher Prices Ahead
From Yahoo Finance: 2025-05-04 12:02:00
Bitcoin has seen a modest 0.73% increase year-to-date, with significant volatility. Recent recovery has it consolidating around the yearly open of 93,548. Technical analysis suggests a bullish trend, with potential for a push towards all-time highs. Key levels to watch are 93,548 and 100,000, with downside support at 91,619, 90,561, and 88,500.
Bitcoin’s recent bullish trend is supported by strong technical structure and market behavior. A clean bullish market structure on the four-hour chart since April 9 indicates demand stepping in at each dip. Price is now in an accumulation phase, moving sideways and setting the stage for a potential breakout. Key levels to watch for are 93,548 and 100,000.
Bitcoin’s price resilience and bullish structure suggest a positive outlook, with potential for higher prices ahead. Maintaining focus on key levels and market structure is crucial for traders, as a breakdown below 88,000 could signal a shift in the trend. Trading based on market reactions rather than predictions is advised for both short-term and long-term positions.