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Bitcoin (BTC) Price Prediction for May 7: Is the Uptrend Losing Momentum?
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After surging past $95,000 in late April, Bitcoin price today shows signs of weakness near the $96,000 resistance zone. On May 6, BTC traded in a narrow range between $94,024 and $94,921, with the price currently consolidating near $94,580. This pause comes after an extended breakout from April’s downtrend structure. With momentum indicators now cooling off, the next 24 hours could determine whether Bitcoin reclaims the $96K+ level or retraces to lower supports.
Bitcoin (BTC) Price Action on Daily Chart: Uptrend Pausing Below Distribution Zone
The daily chart highlights a decisive breakout above the descending trendline from the March–April structure, flipping $92,000–$93,000 into a confirmed support block. The price action now pauses just below a historical resistance band between $96,000 and $100,000—a zone where sellers have historically dominated. This area has previously acted as a supply zone and continues to cap upside momentum.
Support remains strong at the $91,800–$92,500 region, marked by previous consolidation and accumulation in April. The uptrend remains structurally intact unless BTC breaks b…
The post Bitcoin (BTC) Price Prediction for May 7: Is the Uptrend Losing Momentum? appeared first on Coin Edition.
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Bitcoin (BTC) Price Prediction for May 7: Is the Uptrend Losing Momentum?
Share:
After surging past $95,000 in late April, Bitcoin price today shows signs of weakness near the $96,000 resistance zone. On May 6, BTC traded in a narrow range between $94,024 and $94,921, with the price currently consolidating near $94,580. This pause comes after an extended breakout from April’s downtrend structure. With momentum indicators now cooling off, the next 24 hours could determine whether Bitcoin reclaims the $96K+ level or retraces to lower supports.
Bitcoin (BTC) Price Action on Daily Chart: Uptrend Pausing Below Distribution Zone
The daily chart highlights a decisive breakout above the descending trendline from the March–April structure, flipping $92,000–$93,000 into a confirmed support block. The price action now pauses just below a historical resistance band between $96,000 and $100,000—a zone where sellers have historically dominated. This area has previously acted as a supply zone and continues to cap upside momentum.
Support remains strong at the $91,800–$92,500 region, marked by previous consolidation and accumulation in April. The uptrend remains structurally intact unless BTC breaks b…
The post Bitcoin (BTC) Price Prediction for May 7: Is the Uptrend Losing Momentum? appeared first on Coin Edition.
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Bitcoin Must Break $88K or Risk Drop Toward $80K, Analysts Warn