Bitcoin (BTC) Price Shows Renewed Strength as It Pushes Higher Through Key Resistance Levels

Bitcoin (BTC) price is showing renewed strength as it continues to push higher through key resistance levels. The price action confirms a breakout pattern that mirrors previous major rallies.

Bitcoin (BTC) price is showing renewed strength as it continues to push higher through key resistance levels. The price action confirms a breakout pattern that mirrors previous major rallies.

Bitcoin price is trading above $94,000, supported by strong spot buying and rising institutional interest.

Bitcoin Price Breaks Key Levels As Volume And Structure Support Bullish Case

The Bitcoin price action has shown a series of higher lows and higher highs since the beginning of April. Trading volumes have risen steadily after each consolidation, indicating growing demand from both retail and institutional participants.

A connecting bullish trend line is visible with support near $94,200 on the hourly BTC price chart. Data from TradingView confirms that Bitcoin has remained above its 100-hourly simple moving average, showing clear strength.

Analysts note that if Bitcoin clears the $95,500 resistance zone, the next target could be $96,250, followed by $97,500 and $98,800.

The hourly MACD was gaining momentum in the bullish zone at press time. Moreover, the hourly RSI was above the 50 level. Short-term pullbacks remained shallow. The immediate support was at $94,200, and stronger support was at $93,500.

Image: Hourl MACD on BTC price chart by TradingView

Institutional Buyers Add Bitcoin Despite Short-Term Risks

Major buyers have increased their Bitcoin exposure, further supporting the breakout. Notably, investment firm , led by Michael Saylor, announced the purchase of 15,355 BTC in April. The total cost was $1.42 billion, with an average price of $92,737 per Bitcoin.

“As of April 28, we hodl 553,555 BTC acquired for approximately $37.90 billion at $68,459 per Bitcoin,” Saylor confirmed on X.

This move increased Strategy’s Bitcoin holdings by 3%, pushing the total value of its holdings to more than $50 billion. According to Strategy’s Form 8-K filing, its Bitcoin yield stands at 13.7% year-to-date. The company aims to reach a 15% Bitcoin yield target by 2025.

Market observers add that the company’s stock, currently trading at $368.7, could continue to benefit from Bitcoin’s momentum.