Folks ‘round here remember when a thing like Bitcoin was as foreign as rain in Death Valley. You could’ve bought ten for the price of a hotdog and a handshake, and no preacher worth his salt could tell you if it was gospel or damned voodoo. Yet here we are, the old beast trading just under ninety-six thousand dollars—a number big enough to wrinkle even Tom Joad’s brow.
The price gathered itself in late April, a rush of cattle across a morning pasture, and now it stands—proud, anxious—sniffing the resistance fence at $96K, trying to decide whether to jump or graze a while. The market, like a crowd at the end of a dust-choked harvest, is chewing over its winnings. Everybody’s a little jumpy, but nobody’s running for the hills.
Technical Analysis
The Daily Chart
If you walk-by Bitcoin’s daily chart with a careful eye, you’d see it clings to bullishness the way a migrant clings to a promise. The old coin’s keeping a saddle above $91K, its feet sure on the 100 and 200-day moving averages—miles traveled and hard won, folks. Cracked through the $90K–$91K fence with a snort, now bucking against the $95K barrier, right where the last round-up laid down camp.
Like a rattlesnake in the grass, there’s a bearish crossover where the 100-day meets the 200-day near $90K. It sits there, coiled—maybe nothing, maybe something. But unless this critter drops below those averages, don’t nail shut the bullish barn doors yet.
The 4-Hour Chart
Over in the 4-hour corral, Bitcoin paces inside an ‘ascending channel’—which is fancy city-talk for saying it’s getting antsy near the top, like a mule eyeing a steep canyon trail. Now it’s pressed up against the bottom rail around $94K–$94.5K, hoping it doesn’t slip and roll itself down to $92K for repairs.
If it bolts and scrambles back over $96K, you best hold onto your hat—the stampede to $98K or even $100K could be something right out of a Mark Twain yarn. But if $94K doesn’t hold, well, get ready for some dust in your eyes.
Onchain Analysis
SOPR (EMA 30)
The numbers-men say the Spent Output Profit Ratio—or SOPR, for folks who don’t much care for syllables—hangs steady above 1.0. In English, that means everybody still moving coins is doing it for profit, not out of sorrow or desperation. Even after the rally, nobody’s itching to choke up coins for a loss. Makes you think these holders have the patience of a bulldog and the stubbornness of your Aunt Mae at the church raffle. So the trend, she still looks lively. But don’t go betting the farm—Bitcoin’s been known to kick over the lantern and burn through optimism faster than a dust storm through Salinas.
Read More
- How to use a Modifier in Wuthering Waves
- Mistfall Hunter Class Tier List
- 50 Goal Sound ID Codes for Blue Lock Rivals
- Lucky Offense Tier List & Reroll Guide
- Basketball Zero Boombox & Music ID Codes – Roblox
- 50 Ankle Break & Score Sound ID Codes for Basketball Zero
- Problems with starting Contamination, Yet A Trace in Infinity Nikki? It’s a bug
- How to Snag ARC Raiders Beta Key: Your Guide!
- WIF PREDICTION. WIF cryptocurrency
- How To Get Modifiers In WuWa
2025-05-05 16:21