Bitcoin is experiencing a strong upward surge that has pushed the price above the 93,000 level and approaching the 95,000 resistance level, amid strong buying momentum and optimism in the crypto market. This surge coincides with increased trading volume and the market’s approaching anticipated technical and regulatory news. In this analysis, we examine whether this rise will continue or whether the market is preparing for technical profit-taking.
A Look at the Price and Indicators
- Current Price: 93,510
- General Trend: Strongly Upward
- Technical Momentum: Positive, with signs of a temporary correction imminent
Bitcoin has maintained a clear upward trajectory since April 20, breaking through several resistance levels, and is currently trading above important support at 92,871, with a test of the 94,163 resistance level.
Technical Analysis
Technical Indicators:
- MACD: Strongly bullish, indicating continued positive momentum.
- Stochastic: It is currently moving above 65, with a slight inflection pointing to a slowdown in momentum and the emergence of oversold signals.
Price Action Forecast – Daily Scenarios
Positive Scenario:
- If 94,163 is consistently breached, the path will be paved toward 95,098 and then 96,000.
Negative Scenario (Corrective):
- If the price fails to maintain 92,871, a downward correction may begin toward 92,017, and possibly 91,246, as momentum declines.
Trading strategies based on Buy/Sell levels
| BTCUSD | In case of buying | in case of selling |
| Entry point | 94163 | 92017 |
| Target Point 1 (TP1) | First resistance: 95098 | First support: 91246 |
| Target Point 2 (TP2) | Second resistance: 95407 | Second support: 91200 |
| Stop Loss (SL) | 92017 | 94163 |
Bitcoin appears poised to test new historical resistance if the momentum continues, but early technical signs of oversaturation are emerging that could lead to a temporary correction. In this context, the 92,871 level remains key to deciding between an upside move and a correction.
