The analysis of Bitcoin's state shows a slowing growth despite retaining bullish momentum. This article presents supportive and resistance levels, as well as market forecasts.
BTC/USD Technical Analysis
Bitcoin (BTC) has consolidated around $94,192 since its notable surge on April 23, initiating a recovery. The weekly price change stood at +0.53%, signaling a market taking a breather after last week's sharp 10% rise. Weekly volumes have decreased to $32 billion, reflecting a slowdown in activity. However, the bullish trend remains intact across all timeframes: long-term (SMA 200) shows positive momentum, medium-term (SMA 50) indicates a bullish reversal, and short-term (SMA 20) confirms a recent bullish trend. Yet, declining momentum calls for caution in the short term.
Bitcoin Technical Levels (BTC)
Bitcoin is trading between key technical levels. Major resistances are identified between $99,000 and $100,000, extending to $102,500, which are critical distribution zones. Key supports at $91,700 and $82,800 represent defensive and probable accumulation zones. The recent breakout above $88,745 on the daily chart has relaunched a bullish bias, confirmed by the monthly pivot at $88,177 now below price.
Derivatives Analysis (BTC/USDT)
Indicators of the derivatives market show a neutral state. Open interest remains stable, reflecting limited speculative positioning without strong conviction. The liquidation levels are low, unbiased, and show no signs of capitulation.
Bitcoin maintains bullish momentum despite a pause after the recent surge. Future price variations will depend on upcoming economic news, and it is essential to closely monitor price reactions at strategic levels.
