When will Bitcoin (BTC) reach $95,000? Will Bitcoin (BTC) price rise in May?

Bitcoin has established lower resistance levels and has managed to hold above $60,000. So, is the $95,000 target a dream given the current outlook?

Even in the heady days of the bull run, Bitcoin prices can fall sharply. Bitcoin had a great first quarter but is now experiencing one of the declines. The price fell below $60,000 and managed to hold an important support level. Barring bigger losses currently, bulls are far from reaching new highs as $65,000 has become a resistance level.

So what do the indicators say? The Reserve Risk indicator is close to leaving the ideal green zone. The Reserve Risk, which measures the interest and confidence of long-term investors, indicates that prices are at attractive levels. Since it is giving a positive accumulation signal, the price increase that could start soon is supported.

The Net Unrealized Profit and Loss (NUPL) indicator is also hovering in the area where rallies have historically started. This suggests that investors may be willing to rise if the Fed sends positive easing signals.

How many dollars is Bitcoin (BTC) worth?

The ongoing consolidation process after the last rally has formed a flag pattern on the chart, and this continuation pattern draws attention to important targets. It is not surprising that we will experience boring days during the negative and consolidation period after the halving, but we will see that this period of low morale is forgotten by new peaks, just like the previous cycles. At least that's what the historical data says.

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The formation target points to $95,000, an increase of more than 42%. However, to achieve this goal, the BTC price must permanently overcome the $71,800 resistance level and break out of the narrow range in which it is trapped. If this cannot be done, the weakness may continue to $61,000 and $58,000, with a closing price below $63,000. While the uptrend will continue, a close below $58,000 would signal a longer period of boring days for Bitcoin.

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