Bitcoin Holds Steady Post-Rally—Are the Bulls Loading Up for Round Two?

After a sharp climb, BTC’s price action flatlines—traders debate whether this is the calm before another moonshot or just another fakeout in crypto’s endless rollercoaster. Meanwhile, Wall Street ’experts’ still can’t decide if it’s digital gold or a speculative asset (why not both?).

Bitcoin Price Consolidates Gains

Bitcoin price remained stable above the $88,000 level and started a fresh increase. BTC was able to climb above the $90,000 and $91,500 resistance levels.

The bulls were able to pump the price above the $92,500 resistance. It even spiked and tested the $94,650 resistance zone. A high was formed near $94,635 and the price recently consolidated gains. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $86,400 swing low to the $94,635 high.

Bitcoin price is now trading above $92,500 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $92,000 on the hourly chart of the BTC/USD pair.

On the upside, immediate resistance is near the $94,000 level. The first key resistance is near the $94,200 level. The next key resistance could be $94,650. A close above the $94,650 resistance might send the price further higher. In the stated case, the price could rise and test the $95,500 resistance level. Any more gains might send the price toward the $96,200 level.

Downside Correction In BTC?

If Bitcoin fails to rise above the $94,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $93,000 level. The first major support is near the $92,000 level and the trend line.

The next support is now near the $90,500 zone, the trend line, and the 50% Fib retracement level of the upward move from the $86,400 swing low to the $94,635 high. Any more losses might send the price toward the $90,000 support in the near term. The main support sits at $88,800.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $93,000, followed by $92,000.

Major Resistance Levels – $94,000 and $94,650.