Key Insights:
- Bitcoin price surged 5.9% but faces tough resistance at $94K.
- Price broke out, but analysts warn against heavy leverage in the $90K–$94K zone.
- Institutions are swooping in, but high profits might trigger a sell-off if $94K holds.
The Bitcoin price has increased 5.9% in the last 24 hours to trade at $93,582 on a 63% spike in trading volume to $59 billion. On April 22, 2025, the king of crypto reclaimed $90,000 and even pushed to $91,000 later that day. But analysts are sounding the alarm about a major resistance zone around $94,000 that may likely put a lid on this party. Can BTC clear this resistance, or will it recoil back to $80,000?
Bitcoin Price Eyes Big Move As Resistance Mounts
The last few days have been wild for Bitcoin. After a steady climb, BTC surged past $89,000 on April 21, hitting its highest level since early March. By April 22, it was trading at $91,000, riding a wave of strong spot demand during U.S. trading hours.
The vibes are undeniably bullish—Standard Chartered Bank even dropped a hot take, saying Bitcoin could hit a new all-time high due to concerns over the Federal Reserve’s independence. Meanwhile, Bloomberg chimed in, calling Bitcoin a “safe haven” asset, which has institutional investors like Brandon Lutnick and his $3 billion SPAC, 21 Capital, pouring money into the space.
But here’s the deal: not everyone’s ready to go all in on leverage longs just yet. Analyst Jelle warned that the $90,000-$94,000 range is a “major resistance” zone.
“I hope it breaks through as much as the next guy, but I wouldn’t recommend going apeshit with leverage longs here,” he said.
Descending Triangle and Key Bitcoin Price Levels to Watch
The 1-day price chart for Bitcoin shows the asset broke out of the descending channel (highlighted in purple) and is now testing resistance around the $93,700 level.
Price leaped above both the 50-day and 200-day simple moving avg. (SMA) at $84,362 and $88,509, respectively, indicating strong upside momentum.
The previously floundering markets have blown up, following after Bitcoin’s recent price action that has pushed it right up against the upper resistance of this triangle, testing the $90,000-$94,000 range.
If BTC can’t break through $94,000, we might see it slide back to test $88,509, or even the $77,000 support level. On the flip side, a clean break above $94,000 could send Bitcoin mooning toward $100,000 or higher, especially with all the institutional FOMO kicking in.
Bitcoin Maxis Stay Put, Leverage Traders Beware
The investor community is buzzing with mixed vibes. While some market participants acknowledge the strength of the $94,000 resistance, it is hard to deny the bullish momentum behind BTC.
Data from Coinglass
that cumulative longs ($18 billion) exceed corresponding shorts ($1 billion) by 18 times, signaling that bullish sentiment dominates the current market because traders expect the price to rise in the future.
Additionally, data from IntoTheBlock shows 86.22% of all BTC holders are in profit, with only 13.78% at break-even. If the BTC price exceeds $98,241, they will enter into profit. Traders should exercise caution because this could trigger profit-taking from earlier investors.
The overall sentiment is that holders are staying put, but leverage traders might wanna pump the brakes. With Bitcoin testing this massive resistance, it’s a high-risk zone to go all-in on longs. Better to wait for a breakout confirmation or a dip to that green zone the analyst Jelle mentioned.
So, where’s Bitcoin headed? The bulls are gathering strength, but this $94,000 resistance is also strong. If BTC breaks out, the price could run to $100,000 fast. But if it gets rejected, that $84,000-$86,000 green zone is a solid spot to scoop up some dips, with $77,000 as the next major support.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only. And they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
