Bitcoin Price Analysis: BTC Approaches $97K Resistance Amid Emerging Warning Signals

By: cryptopotato|2025/05/07 21:30:02
0
Share
copy
Bitcoin is facing strong resistance at the $97K level, highlighting an ongoing battle between buyers and sellers. However, current price action suggests a potential corrective phase before any decisive breakout.Technical AnalysisThe Daily ChartBitcoin has continued its impulsive surge after breaking above the crucial $90K threshold, reaching the $97K resistance region. However, the bullish trend has temporarily stalled at this critical level, with the price struggling to break above it. The recent consolidation near $97K reflects the presence of supply and a clear battle between buyers and sellers.Additionally, the 100-day moving average has crossed below the 200-day moving average, forming a death cross, which could signal weakening momentum. Given the current structure, Bitcoin appears poised for a short-term corrective pullback or consolidation toward the $90K area before any potential breakout above the $97K resistance.The 4-Hour ChartOn the lower timeframe, Bitcoin’s struggle at the $97K mark is even more pronounced. After reaching this resistance, the price gradually lost bullish momentum, entering a consolidation phase between $93K and $97K.A noticeable bearish divergence between the price and the RSI indicator suggests that sellers are gaining strength. This further supports the likelihood of a short-term correction. As it stands, a consolidation or minor retracement within the $93K–$97K range is the most probable scenario before the market gains enough momentum to breach this resistance.On-chain AnalysisBy ShayanMarketsWhile Bitcoin consolidates at a key level, analyzing futures market metrics offers valuable insight. The chart displays the BTC/USDT Binance liquidation heatmap, highlighting major liquidity pools that could attract price movement.As shown, two significant liquidity zones exist—one above the $97K level and another below $93K, both near the current price. These areas are likely targets for smart money to trigger liquidations of retail traders. A breakout beyond either threshold could lead to a liquidation cascade and amplify the subsequent move.Given the market’s overall bullish bias, a temporary dip below $93K remains possible before Bitcoin attempts a breakout above the $97K resistance. The post Bitcoin Price Analysis: BTC Approaches $97K Resistance Amid Emerging Warning Signals appeared first on CryptoPotato.

You may also like

AI Agent needs Crypto, not Crypto needs AI

It is not Crypto that needs AI to survive, but rather AI Agents that need Crypto to be implemented: when AI truly shifts from "thinking" to "executing," it must seek the boundaries of authority and funding within the programmable primitives of Crypto.

Stablecoins are breaking away from cryptocurrency, becoming the next generation of infrastructure for global payments

The use of stablecoins is shifting from facilitating low-cost cross-border remittances to supporting general commercial activities and inter-company vendor payments.

Web3 teams should stop wasting marketing budgets on the X platform

The announcements from the project party are still very important, but they should no longer be the starting point of promotional activities; instead, they should be the endpoint.

Strive buys Strategy stocks, and Bitcoin treasury companies start nesting each other

When everyone's bets are placed on the same table, the difference between "structured financing" and "concentrated gambling" may just be a few more arrows drawn on the PPT.

Strive to buy Strategy stock, Bitcoin Treasury company starts nesting dolls with each other

Bitcoin hodlers are starting to nested be in each other.

Key Market Intel on March 12th, how much did you miss out on?

1. On-chain Funds: $29.7M inflow to Hyperliquid today; $30.9M outflow from Base 2. Biggest Gainers/Losers: $DRV, $LYN 3. Top News: US plans to release 172M barrels of oil to curb prices, on-chain pre-market crude oil gains narrow by 4%

Popular coins

Latest Crypto News

Read more