Bitcoin: Decline or Rise?

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The key support and resistance levels ahead for BTC/USD are as follows:
•Third Key resistance level of BTC/USD: 102000
• Second Key resistance level of BTC/USD: 99000
• First key resistance level of BTC/USD: 97600
 

 
• First key support level of BTC/USD: 95400
• Second Key support level of BTC/USD: 93500
•Third Key support level of BTC/USD: 92000
 

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Bitcoin: Decline or Rise?

As mentioned in the previous analysis of Bitcoin dated April 24, 2025, the price had the potential to rise, which ultimately materialised. Buyers have successfully reached the highest price level of $97,841 so far.

The cryptocurrency market, being a high-risk asset, is influenced by fundamental factors related to the dollar. Currently, traders are awaiting the release of decisions regarding the dollar’s interest rates on May 7, which could affect Bitcoin and other high-risk assets. Additionally, the recent surge in institutional and corporate purchases of Bitcoin for accumulation strategies is viewed as a positive sign by supporters.

From a technical perspective, considering the price movements formed in more extended time frames, such as monthly and weekly charts, there is no clear indication of a price decline or the start of corrective movements. If the bullish trend continues, the following resistance levels for buyers could be $99,000 and, subsequently, $102,000.
In a bearish scenario, if the key level of $95,400 is breached, the price could face further decline, reaching support levels at $93,500 and, in a more severe case, potentially down to $92,000.