The post Can BTC Break Above $96K or Face Resistance? appeared on BitcoinEthereumNews.com.

Bitcoin (BTC/USD) is currently trading just below $95,000 after staging a steady recovery from its April lows. The world’s leading cryptocurrency has entered May 2025 with strong momentum, reclaiming key moving averages and breaking out of a prior descending trendline. However, it now finds itself in a critical resistance zone—teetering on the edge of a potential breakout or consolidation phase. Weekly Chart: Holding Above Key Fibonacci Levels The long-term structure remains bullish. Bitcoin is holding above the 0.236 Fibonacci retracement level from its $42,997 low to its $109,396 peak, with that retracement level anchored at $89,459. As long as price action remains above this zone, bulls retain structural control. 0.382 Fib support sits at $77,126, which marks the next significant support in case of a pullback. Resistance remains heavy around $100,000–$109,000, where previous rallies faced selling pressure. The broader structure shows a healthy retracement, followed by a reattempt at higher highs. However, BTC must breach $96K convincingly to challenge psychological and technical resistance near six figures. Daily Chart: Breakout Retest Underway Bitcoin has recently broken above a descending trendline (visible since March) and has been consolidating around the $94K–$95K region for several days. This is the same zone where it faced rejection in early April. Immediate resistance: $95,600 (upper Bollinger Band and recent local top) Support zone: $91,000–$92,000 Trendline retest: Completed successfully at around $88,000 in late April Bulls must now defend the $93,000–$94,000 region and push through the $96,000 ceiling. If rejected again, BTC could range between $88K and $95K for much of May. 4-Hour Chart: Consolidation Tightens, Momentum Cooling Bitcoin’s 4-hour chart reveals a clear consolidation phase between $93,000 and $95,600, forming a compression zone just beneath key resistance. The price has been repeatedly testing the upper bound of this range, yet volume remains lackluster—raising the probability of…

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Filed under: News - @ May 1, 2025 11:24 am