Bitcoin Price Analysis: Positive Signals on the Horizon
At the moment (1st of May), Bitcoin is trading sideways, consolidating between a key support level of $92,800 and a resistance zone around $96,000.
Technical indicators suggest the market is relatively stable, with the Relative Strength Index (RSI) remaining below 70, indicating that the asset is not currently overbought.
Should Bitcoin manage to break through the $98,800 resistance, the next significant level to watch would be around $98,000. This could open the door for further bullish momentum, especially given the positive sentiment among investors and the broader market optimism.
From a fundamental perspective, geopolitical developments remain a crucial factor. The outcome of ongoing tariff negotiations, particularly any potential trade deals between the U.S. and other global economies, could significantly influence market direction. A key event to watch is the upcoming conversation between President Trump and President Xi Jinping. A favorable outcome could serve as a catalyst not only for BTC but also for a broader rally across both crypto and stock markets.
However, if the tariff discussions do not yield positive results, investors should not panic. Bitcoin has recently demonstrated resilience, behaving as a potential safe haven asset—its price has not fallen as sharply as traditional equity markets during recent downturns. This characteristic adds to its appeal during uncertain macroeconomic conditions.
Outlook: Despite the short-term sideways movement, the bullish forecast remains intact, supported by positive investor sentiment and Bitcoin’s relatively strong performance amid global tensions. As always, investors are advised to stay informed and monitor both technical and macroeconomic developments closely.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
