- Bitcoin is consolidating above key support levels, with traders eyeing a breakout above the $95,000 resistance.
- A successful move past this level could propel Bitcoin toward $96,000, while failure to hold support may lead to a deeper retracement.
Bitcoin (BTC) continues to show resilience as it hovers above $93,000, with traders eagerly watching for a breakout above the critical $95,000 resistance level. As of April 28, 2025, Bitcoin is trading at approximately $94,770, with intraday fluctuations between $92,953 and $94,783. Despite multiple attempts, the bulls have struggled to push past the psychological barrier at $95,000, leaving the market in a state of cautious optimism.
Consolidation Above Key Support Levels
Bitcoin’s recent price action suggests that the cryptocurrency is consolidating above important support levels. The price has held above $93,000, with strong buying interest around the $92,000 region, providing a cushion against further declines. The 1-hour Relative Strength Index (RSI) at 45 indicates neutral momentum, with no clear indication of overbought or oversold conditions.
However, the 4-hour Moving Average Convergence Divergence (MACD) is showing a bullish crossover, indicating a slight upside bias. Bitcoin also remains well above its 50-day moving average, reinforcing a broader bullish structure despite some near-term indecision.
The Battle for $95,000 Resistance
Bitcoin’s immediate resistance remains at the $95,000 level, which has repeatedly capped upward movements in recent sessions. A breakout above this key level would likely trigger further bullish momentum, potentially pushing BTC toward the next major resistance at $96,000. However, if the bulls fail to break through $95,000, Bitcoin could experience a period of consolidation or even a retreat back to support levels.
Support Zones and Risk of Retracement
On the downside, support remains solid at $93,000, with further support at $92,000. If Bitcoin falls below these levels, it could face deeper retracement and increased volatility. Volume remains relatively low, suggesting that the next significant move may depend on a shift in market sentiment or a major catalyst. Traders should remain alert to changes in volume, as a surge could confirm a breakout or breakdown.
Bitcoin Road Ahead
As Bitcoin navigates these tight ranges, traders are watching closely for a breakout or breakdown. A successful push above $95,000 would set the stage for further gains, with $96,000 in sight. On the other hand, failure to hold key support levels could lead to increased bearish pressure. With patience and vigilance, Bitcoin’s next significant move will shape early May trading.
