- Bitcoin bounced above $94K after a dip triggered by $93K support selling pressure.
- Binance saw a 15% volume surge, with 12,500 BTC traded, signaling bullish sentiment.
- Bitcoin faces resistance at $95,500, with support around $93,000 and $94,200 levels.
Bitcoin is gaining momentum, trading above $94,000 after a volatile session triggered by a sell-off. The digital asset dipped briefly when the $93,000 bid liquidity was raided, but strong spot buying emerged. This move shows market resilience, positioning BTC for a potential surge beyond the $95,500 resistance level.
Sellers Hit Bitcoin’s $93K Support, Triggering Dip
According to Skew, sellers tested Bitcoin’s $93,000 support level on April 30, 2025, triggering an immediate fall. However, this pressure was soon absorbed by purchasers at Binance and Coinbase, sending prices surging upward. Taker bids and a rising cumulative volume delta (CVD) reinforced bullish momentum, marking $93K as a vital intraday support level.
Initial long positions were liquidated during the drop, triggering cascading stop-loss orders. Despite this, new long entries entered as the price bounced from $93,000. CVD turned positive, signaling buyer dominance. The reversal illustrates aggressive trading near psychological zones, offering opportunities for short-term scalpers and algorithmic trading strategies.
Binance reported 15% growth in BTC/USDT volume at approximately 12,500 BTC traded. Coinbase reported a 10% increase at 8,200 BTC exchanged. These figures indicate institutional- or high-volume retail-level buy orders holding at the $93K mark and flipping sentiment to bullish as they move towards the next level of resistance.
Bitcoin’s Breakout Could Target $95,250 or $96,500
BTC rebounded from its low of $92,970 and regained the $93,500 and $93,800 marks. The price broke above the 50% retracement of the $95,195 to $92,970 fall and strengthened above the 100-hourly SMA and regained the mark of $94,000. This shows a strong retest of higher resistance areas.
Bitcoin is trading above the 76.4% Fib retracement of the same decline. A bearish trendline hovers near $95,000, creating immediate resistance. A breakout above this line may spark renewed upside momentum, targeting $95,250 and then $95,500, with the potential to extend gains toward $96,500 or even $98,000.
On the other hand, breaching $95,500 may draw in fresh downside. The immediate support comes in at around $94,200 and then lower-level support at $93,500. If selling continues, Bitcoin can revisit $93,000 or head lower to $92,500. In the worst case, $91,200 is still the last significant support within the immediate technical framework.
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