Bitcoin's price is coasting along at $101,250, leaving a 7.44% gap before reaching its all-time high

On the daily chart, bitcoin shows dominant bullish momentum with a confirmed breakout above the prior consolidation zone. The move is supported by increasing volume, validating the recent upside push.

Bitcoin’s price is holding steady at around $101,251 on May 8, leaving a 7.44% gap before reaching its all-time high. It has a market capitalization of $2.01 trillion and a 24-hour trading volume of $58.84 billion.

Bitcoin is currently trading in a complex but bullish technical landscape, where it ranged intraday between $95,967 and $101,711.

On the daily chart, bitcoin shows dominant bullish momentum with a confirmed breakout above the prior consolidation zone, which is recognized by increasing volume, validating the recent upside push. The current support band is resting between $93,000 and $95,000, while resistance is projected above $102,000. Traders could enter on pullbacks to the $96,000-$98,000 range, especially with protective stop-loss orders beneath $94,000.

The four-hour bitcoin chart reflects a sharp V-shaped recovery from $93,376, characterized by robust buying activity and ascending candle structures. A recent spike in volume underscores renewed investor interest, yet resistance at $101,711 is currently limiting further advances. The critical support zone is between $97,000 and $98,500, and a favorable entry could form near $99,000-$99,500, especially if a bullish reversal candle appears. However, repeated rejections at the upper resistance level may prompt cautious exits or short-term profit-taking.

On the one-hour chart, bitcoin is undergoing modest consolidation after a steep surge. Although volume surged during the breakout, it has since declined, suggesting momentum is cooling in the near term. Immediate support is found at $100,500, with deeper levels near $99,800. Intraday traders may look to scalp on bounces off these levels, placing tight stops under $99,500.

Oscillators provide a mixed, though slightly favorable, bias toward continued upward action. The relative strength index (RSI) at 73, Stochastic at 88, commodity channel index (CCI) at 158, and average directional index (ADX) at 31 all present neutral signals, indicating a market that could pause before its next move. However, the Awesome oscillator at 7,241, momentum indicator at 6,383, and moving average convergence divergence (MACD) level at 3,121 all issue positive signals, suggesting momentum is still leaning bullish.

The moving averages across all timeframes reflect unanimous bullish alignment. The exponential moving averages (EMA) and simple moving averages (SMA) at the 10-, 20-, 30-, 50-, 100-, and 200-period intervals all signal bull-leaning sentiment. With the EMA (10) at $96,391 and SMA (10) at $96,218 rising in tandem with price, the structure supports a continuation of the current trend. These averages confirm strong technical underpinnings, reinforcing the view that any retracements are likely to be short-lived within a bullish macro context.

Some say it’s big-money players jumping in, while others credit Trump’s trade agreements finally leaning positive.

According to the Bitcoin charts, the cryptocurrency is showing signs of a strong technical rebound, which could push it to retest its all-time high (ATH) of $106,000.

The cryptocurrency has faced resistance at the $101,700 level in recent trades, while support is seen in the $99,000-$100,000 support range. A break below this level could open the door for a deeper decline to the $95,000 support level.

On the other hand, a move above the $101,711 resistance level could clear the path for a test of the $105,000-$106,000 resistance levels, which includes the ATH.

"The broader trend remains bullish and favors upside continuation as long as major moving averages remain supportive and key oscillators don't indicate a complete loss of momentum," the report noted.

The technical indicators are mixed, with some suggesting that the rally could continue, while others suggest that a pullback could be in the works.

The relative strength index (RSI) is at 73, the Stochastic oscillator is at 88, and the average directional index (ADX) is at 31, all of which suggest that the rally is overbought and could cool in the near term.

However, the Awesome oscillator is at