Technical analysis by ArShevelev about Symbol BTC on 5/1/2025

BTC is trading within a well-defined ascending channel, with the price currently at $97,400, after breakout and retest of weekly high resistance around $95,800. The channel’s upper boundary projects a potential target of $104,000 if BTC continues to move upward over the week!Key resistance levels to watch are $98,000 and $100,000, while support lies at $96,200 and the channel’s lower boundary at $95,000. A breakout above $100,000 could ignite a rally toward $104,000, but if BTC fails to hold support at $96,000, we might see a dip back to $94,400-93,000. Key Levels to Watch:Resistance: $100,000, $98,000Support: $96,000, $94,000Breakout Target: $104,000+Breakdown Risk: $93,000Will BTC soar to new heights, or are we in for a pullback? Let’s hear your thoughts below!