Bitcoin (BTC) 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.

Bitcoin price today shows signs of weakness after surging past $95,000 in late April. As the cryptocurrency attempts to break above the historical resistance zone at $96,000, it faces strong seller pressure that could stall the bullish momentum.

Bitcoin (BTC) Price Action: 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 below the 21-day EMA or re-enters the previous breakout range.

Bitcoin (BTC) Price Update on 4H Chart: EMA Zones & Resistance Compression

On the 4H chart, BITCOIN Price Action shows a slight bearish divergence as the price struggles to reclaim the lower edge of the supply zone at $95,200–$95,800. The 50 and 100 EMA levels, now closely stacked near $94,800, are acting as a short-term pivot. The 200 EMA is further below near $90,350, forming the lower buffer zone if a correction unfolds.

Price is currently sandwicぞれぞれ. This volatility squeeze suggests a likely directional move in the next session.

Meanwhile, the Ichimoku Cloud on the 30-minute chart shows BTC stuck under the Kumo resistance, with the Tenkan-sen and Kijun-sen both tracking flat near $94,500. This reflects indecision, with bulls needing a decisive push through the cloud to confirm a bullish reversal.

Intraday Trend & Resistance Levels: What’s Driving the Bitcoin Price Spikes?

The 15-minute and hourly charts show a descending trendline from the recent $96,400 top still intact. Price is now attempting to break above this intraday trendline, currently capped near $95,054. A breakout from this level is required to shift momentum.

The short-term support band between $93,600–$93,800 remains structurally important. If BTC fails to hold this zone, the next visible demand block is near $92,000.

Bitcoin (BTC) Price Forecast Table – May 7, 2025