Bitcoin (BTC) is trading at approximately $96,228, reflecting a slight decline of 0.46% over the past 24 hours. Despite this minor pullback, BTC has seen a significant 14% increase over the past month.
In this article, we will look at btc next target by looking at price chart and technicals.
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Bitcoin Next Target
- Current Price: $96,228
- 24h Price Change: -0.46%
- 24h Range: $96,216 – $97,838
- Market Cap: Approximately $1.89 trillion
- 24h Trading Volume: Approximately $28.7 billion
- Circulating Supply: Approximately 19.7 million BTC
Price has broken through down trendline (see chart) as well as back above 200 SMA (Golden Crossover), which could signal bullish trend reversal. Also, notice that the gap from $74K to $90K from early November (after US elections) has been filled.
We would be buyers on retests of $90K resistance level, with +10% upside potential back to $100K next.
📈 Key Technical Indicators
- Relative Strength Index (RSI): ~61.5 (approaching overbought territory)
- MACD: Bullish crossover observed
- Support Levels: $92,000, $85,000
- Resistance Levels: $100,000, $107,000
- Current Trend: Bullish with strong upward momentum
📰 Latest Bitcoin News & Developments
- 📈 Institutional Inflows
BlackRock’s Bitcoin ETF recorded a significant daily inflow of $674.9 million on May 3, 2025. - 📊 Market Dynamics:
Bitcoin’s price has rebounded, reaching over $97,000—its highest in more than two months—approaching the key $100,000 psychological level. - 🛠️ Regulatory Developments:
The UK’s Financial Conduct Authority (FCA) plans to ban retail investors from borrowing funds to invest in cryptocurrencies.
📌 Summary
Bitcoin is showing strong bullish momentum, with the price stabilizing around $96,228. Technical indicators point to continued upward movement.
Investors should keep an eye on the critical resistance near $100,000 and monitor global regulatory updates.
👉 Short-Term Forecast: Bullish, with potential to test $100,000
📉 Risk Factor: Moderate – due to volatility and regulatory risks
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