- The price of Bitcoin rallied back from its three-year resistance level while maintaining support above $96,000.
- Market sentiment increased after the U.S. and China struck trade deal negotiations.
- The price action creates a consolidation phase while support rests at $96,500.
Bitcoin’s price has maintained its recent gains near $96,400 after a strong increase from sustained support provided by its long-term ascending trendline. The value of Bitcoin has produced three crucial support-based rebounds during the past three years that define turning points for 2022, 2023, and mid-2025. The trendline’s strength was determined through each contact, which established a rising lower support pattern.
The upward movement at point three indicates rising investor activity during a larger market adjustment. Price growth expectations continue, indicating future market gains while strength remains constant. Trader optimism remains bullish as market participants seek an additional breakout under this ongoing price pattern.
Price Rises on U.S.-China Trade Talks and Institutional Action
Bitcoin rose 2.2% on Wednesday to $96,446.5 after U.S. and Chinese officials confirmed they will hold trade discussions in Switzerland this week. Announcement news triggered positive risk sentiment signals from market participants. The market increase occurred simultaneously, re-establishing buying patterns that boosted immediate trading momentum.
Despite achieving growth during this period, Bitcoin moved between $90,000 and $97,000. Since April’s end, the consolidated price zone has maintained its integrity throughout the subsequent decline in the broader price range. However, the market has not been able to push the asset value above $97,000 throughout the past week despite $100,000 serving as the upcoming psychological threshold.
Furthermore, these trade-related positive factors remained as the U.S. and China maintained their existing tensions. On Tuesday, President Donald Trump signaled his intention to hold off on signing a trade agreement. In April, each nation introduced trade tariffs surpassing 100% against the other, which made immediate trade reduction improbable. Nevertheless, Bitcoin maintains independence from trade discussions, yet investors’ mood swings influence cryptocurrency exchange rates.
In addition, digital assets suffered heavy losses throughout the year as fears grew that the trade conflict would worsen. Digital market traders reacted forcefully to discussions about trade negotiations by viewing them as signs of a possible new direction.
Momentum Indicators Show Mixed Signals in Short-Term Trade
Bitcoin reached $97,000 briefly during Tuesday’s session but returned to $96,900 as morning trades began. The market displayed trader caution through this 0.10% decrease in price value. Technical analysis indicators indicated waning momentum signs after this price gain.
A price increase triggered an RSI signal reading at 70, indicating markets were driven beyond normal levels. The metric shifted to a consolidation pattern when it dropped to 60.74. The MACD’s positive crossover phase was retained while the MACD line hit 19.01, and the signal line stood at 102.70. The bullish crossover remains active, yet the reduced gap indicates a weakening market pace.
However, on the 15-minute chart, Bitcoin experienced a price surge to $94,000 before showing reduced price volatility. Individuals in the market held positions quietly until a concrete event required action. Market analysts observe $96,500 as a crucial support level that could be activated if Bitcoin pulls back. Although short-term price indicators displayed reduced strength, the general market standpoint remains optimistic.
