Bitcoin Bounces Off $93K Support—$96.5K in Sight as Bulls Charge Back

Crypto’s favorite rollercoaster is climbing again after a dip to $93K. Traders now eye $96.5K as the next resistance—because apparently, ’stablecoin’ is just an ironic term these days.

Technical indicators show renewed buying pressure, though let’s be real—half the market’s still waiting for that ’institutional adoption’ PowerPoint from 2021 to finally play out.

• Bitcoin bounced above $94K after a dip triggered by $93K support selling pressure.
• Binance saw a 15% volume surge, with 12,500 BTC traded, signaling bullish sentiment.
• Bitcoin faces resistance at $95,500, with support around $93,000 and $94,200 levels.

Bitcoin is gaining momentum, trading above $94,000 after a volatile session triggered by a sell-off. The digital asset dipped briefly when the $93,000 bid liquidity was raided, but strong spot buying emerged. This move shows market resilience, positioning BTC for a potential surge beyond the $95,500 resistance level.

Sellers Hit Bitcoin’s $93K Support, Triggering Dip

According to Skew, sellers tested Bitcoin’s $93,000 support level on April 30, 2025, triggering an immediate fall. However, this pressure was soon absorbed by purchasers at Binance and Coinbase, sending prices surging upward. Taker bids and a rising cumulative volume delta (CVD) reinforced bullish momentum, marking $93K as a vital intraday support level.

Initial long positions were liquidated during the drop, triggering cascading stop-loss orders. Despite this, new long entries entered as the price bounced from $93,000. CVD turned positive, signaling buyer dominance. The reversal illustrates aggressive trading NEAR psychological zones, offering opportunities for short-term scalpers and algorithmic trading strategies.

Binance reported 15% growth in BTC/USDT volume at approximately 12,500 BTC traded. Coinbase reported a 10% increase at 8,200 BTC exchanged. These figures indicate institutional- or high-volume retail-level buy orders holding at the $93K mark and flipping sentiment to bullish as they move towards the next level of resistance.

Bitcoin’s Breakout Could Target $95,250 or $96,500

BTC rebounded from its low of $92,970 and regained the $93,500 and $93,800 marks. The price broke above the 50% retracement of the $95,195 to $92,970 fall and strengthened above the 100-hourly SMA and regained the mark of $94,000. This shows a strong retest of higher resistance areas.

Bitcoin is trading above the 76.4% Fib retracement of the same decline. A bearish trendline hovers near $95,000, creating immediate resistance. A breakout above this line may spark renewed upside momentum, targeting $95,250 and then $95,500, with the potential to extend gains toward $96,500 or even $98,000.

On the other hand, breaching $95,500 may draw in fresh downside. The immediate support comes in at around $94,200 and then lower-level support at $93,500. If selling continues, Bitcoin can revisit $93,000 or head lower to $92,500. In the worst case, $91,200 is still the last significant support within the immediate technical framework.

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