Bitcoin continues to trade just under $ 96,000 resistance, consolidating after its sharp rally in late April. The price is currently floating in a narrow range, while the market digests recent benefits.
The momentum has been slightly cooled, but there have been no major bears on the bears.
Technical analysis
Daily chart
The BTC remains in the overall bullish structure during the everyday period, holding over $ 91,000 support and 100 and 200-day movement. After $ 91,000, after $ 91,000, the property now tests $ 95,000 resistance zone, which is also with the collar of the previous consolidation.
Moreover, the 100-day and 200-day moving average are printed near the $ 90,000 level, the only major worrying sign. Until Bitcoin is in both positions, the middle -term bullish trend remains intact.
4-hour chart
The four-hour chart has a BTC recently trapped inside a rising channel pattern, which usually signals the local top or the bullish impulse slowing down, especially if it is covered with a negative side.
The property is currently testing the lower limit of the pattern to about $ 94,000 to $ 94.5,000, now acting as a grant. If this level does not apply, the next demand zone is around the $ 92,000 limit. On the valve side, the $ 96,000 recovery would probably light up another foot, channeling $ 98,000 and even $ 100,000.
Chain analysis
SOPR (Mother 30)
Chain metrics show that bullish prejudices still support the dynamics of healthy profits and limited sales pressure. The profit ratio (SOPR) is over 1.0 thresholds, indicating that coins moving in the circuit make this profit. The important thing is that SOPR recently recovers at a price, pointing out that even after the rally, the owners do not rush to leave positions.
It reflects a strong conviction on the market and usually supports continuing trends rather than immediate correction.
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