Bitcoin Catches Its Breath After the Rally – Technical Analysis For May 6, 2025

Bitcoin takes a pause after a bullish surge: find our complete analysis and the current technical outlook of BTC.

BTC/USD Technical Analysis

Bitcoin has consolidated around $94,192 since its surge on April 23, initiating a notable recovery. The weekly change stands at +0.53%, marking a pause after the strong +10% rebound the previous week, indicating a market taking a breather. Weekly volumes have declined to $32 billion (-28%), reflecting a slowdown in activity. Trends remain bullish on all three horizons: long term (SMA 200) with intact momentum, medium term (SMA 50) in a bullish reversal, and short term (SMA 20) confirming a recent bullish trend. However, momentum is declining, calling for short-term caution.

Indicator	Status	Comment
Spot Price	$94,192	Bitcoin consolidates around $94,000 since its April 23 surge, after starting a notable recovery.
Recent Weekly Changes	+0.53%	Modest increase this week after a +10% jump, indicating a market in a breathing phase.
Recent Weekly Volumes	$32B (-28%)	Activity slowdown after the previous week’s bullish momentum.
Long-term Trend (SMA 200)	Bullish	Trend intact, supporting a positive long-term bias.
Medium-term Trend (SMA 50)	Bullish	Constructing a bullish reversal.
Short-term Trend (SMA 20)	Bullish	Confirms a recent and fast bullish dynamic.
Momentum	Declining	Bullish momentum but in decline, indicating market slowdown.

Bitcoin Technical Levels (BTC)

Indicator	Status	Comment
Resistances	$99,000 – $100,000 / $102,500	Critical zones, potential distribution thresholds.
Support	$91,700 / $82,800	Major defense levels, probable accumulation zones.
Last Daily Breakout	$88,745	Resistance breached, bullish bias relaunched.
Monthly Pivot Point	$88,177	Reference level for the month’s trend below the price.
High Value Area	$96,500	High volume zone; upper bound of a market balance, beyond which imbalance may emerge.
Low Value Area	$67,340	High volume zone; lower bound of a market balance, beyond which imbalance may appear.

Bitcoin is trading between key technical levels. Major resistances are between $99,000 and $100,000, extending to $102,500, critical distribution zones. Main supports at $91,700 and $82,800 are defense and probable accumulation zones. The recent break above $88,745 on the daily chart relaunches a bullish bias. The monthly pivot at $88,177, now below price, confirms this positive momentum. In volume, the high value area at $96,500 marks an upper equilibrium boundary, while the low value area at $67,340 represents a threshold for imbalance in case of a pullback.

Market Sentiment

Market Sentiment (Fear & Greed Index)	Greed	Euphoric sentiment confirming the return of risk appetite.
BTC Spot ETF Flows (net flows)	Significant inflows	Institutional flows support the current trend.

Market sentiment remains marked by greed, confirming a return of risk appetite. Bitcoin spot ETFs record significant net inflows, highlighting institutional support for the ongoing trend.

The current technical analysis was conducted in partnership with Elyfe, and 0xhugzer, investors and educators in the cryptocurrency market.

Derivatives Analysis (BTC/USDT)

Indicator	Status	Comment
Open Interest	Stable	Limited speculative positioning, no strong conviction.
CVD	Balanced flow	No directional signal, balanced buying and selling flows.
Liquidation	Low, unbiased	Stable liquidations, no sign of capitulation.
Funding Rate	Neutral	Funding close to balance, market shows no apparent tension.

Market sentiment indicators remain neutral and uncommitted. Open interest is stable, reflecting limited speculative positioning and no marked conviction. The CVD shows balanced buying and selling flows, with no clear directional signal. Liquidation levels remain low, unbiased, and without signs of capitulation. Finally, the funding rate is neutral, close to balance, indicating a market without apparent tension between buyers and sellers.

Indicator	Status	Comment
Seller Liquidation Zones	≈ $98,000 – $100,900 & $107,200 – $110,551.	Sensitive zones in case of breakout, risk of movement amplification.
Buyer Liquidation Zones	≈ $92,600 / $89,300 – $88,500 & $87,700 – $85,570 / $84,000 – $80,000.	Critical thresholds on the downside, potential flush zones.

The main liquidation zones for short positions are between $98,000 and $100,900, then between $107,200 and $110,551. Breaching these critical levels could strengthen a bullish acceleration. Conversely, buyer liquidation zones extend from $92,600 to $89,300, then between $88,500 and $87,700, as well as at $85,570, and finally between $84,000 and $80,000, the latter range representing a strategic threshold in case of prolonged correction without buying support.

Bitcoin (BTC) Price Forecasts

Bullish Scenario:

• Conditions: Maintain above $91,700.
  
• Targets: $97,920 / $99,000 – $100,000 / $102,500 / $107,000 – $109,354 (ATH).
  
• Potential: approximately +16% increase from current level.

Bearish Scenario:

• Conditions: Break of support at $91,700.
  
• Targets: $92,600 / $89,300 / $86,400 / $84,000 – $80,000.
  
• Potential: approximately -15% decrease from current level.

Comment:

The bias currently remains bullish, but macroeconomic indicators (FOMC conference, FED interest rate decisions, etc.) will be decisive in validating this scenario.

Conclusion

Bitcoin maintains a bullish momentum, despite a pause after its recent surge. The momentum is slowing down and activity is declining, calling for short-term caution. Sentiment remains favorable, supported by investor interest, in a stable market. Short-term future variations will depend on the expected economic news. In this context, it will be essential to closely monitor price reactions at strategic levels to confirm or adjust current forecasts.

Finally, let us remind you that these analyses are based solely on technical criteria, and that cryptocurrency prices can rapidly change depending on other more fundamental factors.

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