BTC Rejects at $95,298 While gets Higher Lows Near $93.8K

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Bitcoin is forming higher lows and still trades above $93,800 while holding a clear ascending trendline support.The price has failed to break above $95,298 where the 200-hour SMA continues to act as strong resistance.Traders see short-term strength but longer trend changes depend on clearing this level without falling below support.Bitcoin is forming higher lows near $93,800 but faces rejection at the 200-hour simple moving average (SMA) near $95,298. The current setup signals short-term bullish momentum while longer-term bearish pressure persists from overhead resistance. Traders remain cautious as key moving averages converge in a narrow range. Source: XA chart shared by Caleb Franzen on May 5, 2025, reveals critical price structure dynamics on the 1-hour BTC/USD chart. The green trendline indicates an ascending support level that has been tested multiple times without breakdown. At the same time, the 200-hour SMA, now acting as resistance, caps upside moves.Franzen describes this structure as “short-term bullishish,” despite Bitcoin’s failure to break above the 200-hour cloud. This resistance zone could prove pivotal in the near term. While price action remains constructive, a reversal at resistance remains a key concern for market participants.Key Moving Averages Suggest Mixed SignalsBitcoin’s 200-hour SMA currently stands at $95,298, according to the TradingView chart. The price is trading just below this level, encountering resistance on repeated attempts. The 50-hour and 100-hour exponential moving averages (EMAs) are positioned near $94,877 and $94,280 respectively. Both shorter EMAs have crossed beneath the 200-hour SMA. Historically, this formation signals weakening bullish momentum. Technical traders often refer to this setup as a bearish cross. When shorter-term EMAs move below long-term averages, sellers tend to gain confidence.User commentary under Franzen’s tweet supports this view. One trader noted that the crossover of the 50 and 100 EMAs beneath the 200 SMA historically signals trouble for bulls. Others agreed, pointing out that this pattern frequently precedes deeper corrections.Despite that, Bitcoin is still producing higher lows. This structure suggests that buyers are stepping in at each dip, which keeps the price supported. The bullish trendline drawn from April’s lows continues to provide a strong technical foundation.Support Near $93,800 Holds for NowPrice levels around $93,800 have acted as reliable short-term support. This zone was tested multiple times in recent sessions, with price bouncing each time. The green arrow on the chart signals the possibility of another upward move if this support holds firm.Traders often look for confluence zones—where support aligns with other indicators—to evaluate trend strength. In this case, the green trendline and horizontal support combine to offer a high-probability bounce region. A breakdown below $93,800, however, may attract additional selling.As of the chart’s last update, Bitcoin trades slightly below $94,000. Buyers must reclaim $95,298 to resume the previous uptrend. Meanwhile, sellers may remain in control unless bulls break through the moving average cloud convincingly. The current price action raises a crucial question: will Bitcoin overcome the 200-hour SMA resistance and regain momentum, or will bearish pressure intensify?Market participants will likely track this level closely over the coming hours. Price action near this resistance zone could dictate the next direction for Bitcoin.Source link