Bitcoin (BTC) Corrects in Early May 2025, Will it Continue to Fall?

Jakarta, Pintu News – Bitcoin (BTC) has recently experienced a decline after failing to break through resistance at $98,000. Currently, the cryptocurrency is trying to maintain support in the $93,500 zone, after dropping from a high of $97,800.

Bitcoin Price Correction

After peaking near $97,800, Bitcoin (BTC) started a downward correction. This decline came after Bitcoin (BTC) failed to break the critical resistance at $98,000. In the process, Bitcoin (BTC) has broken several important support levels, including $96,500 and $95,500. Currently, the price is trying to stabilize above the $93,500 support zone, after recording a low of $93,570.

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Possible Price Recovery

Bitcoin (BTC) has tried to recover by breaking back above the $94,000 level. However, there are still hurdles to overcome to get back on the upward path. The immediate resistance is at $94,500, followed by the key resistance at $95,250, which is also the confluence point with the bearish trend line on the hourly chart of the BTC/USD pair.

If Bitcoin (BTC) manages to break $95,750, which is the 50% Fib retracement of the last drop, it could pave the way towards higher resistance levels at $96,800. Bitcoin (BTC) is currently below $96,000 and the 100-hour simple moving average. Technical indicators show that the MACD (Moving Average Convergence Divergence) is losing momentum in the bearish zone, while the RSI (Relative Strength Index) is below the 50 level, indicating that selling pressure is still present.

Potential for Further Decline

If Bitcoin (BTC) fails to break the $95,250 resistance zone, there is a possibility that the currency will experience a further downward correction. Immediate support is at the $94,000 level, followed by major support at $93,500. If the decline continues, Bitcoin (BTC) could reach support at $93,200, and if selling pressure persists, the price could drop towards $92,500 in the short term. The next major support lies at $91,200.

The Future of Bitcoin

With the current market conditions, investors and market watchers should remain vigilant on Bitcoin (BTC) price movements. Aayush Jindal, with over 15 years of experience in the financial markets, suggests paying attention to both support and resistance levels that could determine the next direction of Bitcoin (BTC). Jindal’s expertise in technical analysis is a valuable guide in interpreting these market fluctuations.

Also Read: Ethereum Hangs Above $1,770: Can It Reach $2,030 Next?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Bitcoin Price Eases to $98K. Accessed on May 5, 2025
• Featured Image: Generated by AI