- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Bitcoin Bounces Off Session Lows to Trade at About $97,304
By: fx daily report|2025/05/03 02:45:01
0
Share
On Friday, the Bitcoin price bounced from the session lows of about $96,290 to trade at about $97,304 after the U.S. NFPs. The BTC/USD trades within an ascending channel formation in the 60-minute chart. Bitcoin has now ascended to trade several levels above the 100-hour moving average line. As a result, the price of the pioneer cryptocurrency is on the verge of entering the overbought levels of the 14-hour RSI. Bitcoin Price Fundamentals Overview From a fundamental perspective, the BTC/USD trades during a relatively busy period in the U.S. market. On Friday, the U.S. jobs data for April exceeded the expectation of 130k with a tally of 177k, down from the previous month’s equivalent of 185k. The average hourly wage growth for the period missed the forecasted (MoM) and (YoY) changes of 0.3% and 3.9%, respectively with changes of 0.2% and 3.8%, while the unemployment rate for the period was unchanged from March at 4.2%, in line with expectations. Elsewhere, factory orders for March fell short of the forecasted (MoM) change of 4.5% with a change of 4.3%. Earlier in the week, the ISM Manufacturing PMI for March beat the expected reading of 48 with 48.7, while the ISM Manufacturing Prices Paid for the period missed 70.3 with 69.8. The initial jobless claims for the week ending April 25 came in significantly higher than expected with 241k versus a forecast of 224k, up from the preceding week’s claim count of 223k. The personal income for March beat the expected (MoM) change of 0.4% with a change of 0.5%, while the personal spending for the period outshone 0.6% with a change of 0.7%. Bitcoin Price Technical Analysis (the 60-min Chart) Technically, the BTC/USD trades within an ascending channel formation in the 60-minute chart. The 14-hour RSI also supports a bullish bias as it edges closer to overbought conditions. Therefore, the bulls will look to stretch the current gains toward $98,410 or higher to $99,547. On the other hand, the bears will look to pounce on pullbacks at about $96,290 or lower at $95,153. Bitcoin Price Technical Analysis (the Daily Chart) In the daily chart, the price of the pioneer cryptocurrency is about to complete a double-bottom reversal pattern formation. The 14-day RSI is also on the verge of entering overbought conditions. Therefore, the bulls will look to ride the current gains toward $102,053 or higher to $107,245. On the other hand, the bears will look to pounce on profits at about $92,564 or lower at $87,192.
You may also like
Memories: 10 Key Contributions of the TON Core Team That Few People Knew in the Early Days
Every line of code, every tool we build, every sleepless night spent maintaining the network—these efforts have laid the foundation for TON's development today.
2025 South Korea CEX Listing Post-Mortem: Investing in New Coins = 70% Loss?
The 2025 South Korean exchange's new token listing performance is structurally similar to Binance's, with no significant differences.
BIP-360 Analysis: Bitcoin's First Step Towards Quantum Immunity, But Why Only the "First Step"?
This article explains how BIP-360 reshapes Bitcoin's quantum defense strategy, analyzes its enhancements, and discusses why it has not yet achieved full post-quantum security.
50 million USDT exchanged for 35,000 USD AAVE: How did the disaster happen? Who should we blame?
Due to a fatal flaw in the transaction path, a $50 million DeFi operation was executed with almost zero protection, resulting in nearly the entire amount of funds evaporating in a tiny liquidity pool.
The Cryptographic Past of the Middle East
Reality is often more exciting than fiction.
Resolving the Intergenerational Prisoner's Dilemma: The Inevitable Path of Nomadic Capital Bitcoin
When the baby boomer generation collectively sells off, who will become the "greater fool" in the next round of asset crashes?
Who Will Control AI? Why Decentralized AI May Be the Only Alternative to Government and Big Tech
AI has become critical infrastructure, and governments and corporations are competing to control it. Centralized development and regulation are entrenching existing power structures. The Web3 community is building a decentralized alternative — distributed compute, token incentives, and community governance — before that window closes.
Vitalik wrote a proposal teaching you how to secretly use AI large models
Vitalik believes that in the AI era, users should not have to give up their identity to use an AI tool.
On the eve of the explosion of on-chain options
Options are becoming a new anchor in the cryptocurrency market.
WEEX AI Hackathon: How Did This AI Trading Winner Succeed?
A self-taught AI trading enthusiast achieved top-10 results at the WEEX AI Hackathon. Learn about the mindset, AI tools, and lessons behind this impressive performance.
One Balance to Rule Them All: Gravitas' On-Chain Prime Broker Ambition
Forty years ago, a technological revolution broke the isolation of information, reshaping Wall Street. Forty years later, Grvt aims to break the isolation of capital with an on-chain prime brokerage model.
That person who cashed out at the NFT peak is now selling a new shovel in the OpenClaw craze
A skilled person never picks the table, they eat meat with every bite.
Inter-generational Prisoner's Dilemma Resolution: The Nomadic Capital and Bitcoin's Inevitable Path
When the Baby Boomer generation collectively sells off, who will be the "bag holder" in the next asset crash?
Upstream and downstream are starting to fight, all for the sake of everyone being able to "Lobster"
「Lobster」 may not be a mature product yet, but it has already ushered in a new era of 「AI Assistants」.
Circle and Mastercard Announce Partnership, the Next Stage for the Crypto Industry Belongs to Payments
Stablecoins are transitioning from a speculative tool to real financial scenarios such as payments, cross-border transfers, and store of value.
From 5 Mao per kWh of Chinese electricity to a $45 API export: Tokens are rewriting currency units
When the same unit can both measure hashing power and facilitate payments, it ceases to be just a term and begins to evolve into a new currency of both value and influence.
Why is OpenAI playing catch-up to Claude Code instead?
Anthropic Bets Earlier on AI Programming, OpenAI Strategic Tempo Misaligned
Vitalik wrote a proposal teaching you how to secretly use AI large models
Vitalik believes that in the AI era, users should not have to sacrifice their identity to use an AI tool.
Memories: 10 Key Contributions of the TON Core Team That Few People Knew in the Early Days
Every line of code, every tool we build, every sleepless night spent maintaining the network—these efforts have laid the foundation for TON's development today.
2025 South Korea CEX Listing Post-Mortem: Investing in New Coins = 70% Loss?
The 2025 South Korean exchange's new token listing performance is structurally similar to Binance's, with no significant differences.
BIP-360 Analysis: Bitcoin's First Step Towards Quantum Immunity, But Why Only the "First Step"?
This article explains how BIP-360 reshapes Bitcoin's quantum defense strategy, analyzes its enhancements, and discusses why it has not yet achieved full post-quantum security.
50 million USDT exchanged for 35,000 USD AAVE: How did the disaster happen? Who should we blame?
Due to a fatal flaw in the transaction path, a $50 million DeFi operation was executed with almost zero protection, resulting in nearly the entire amount of funds evaporating in a tiny liquidity pool.
The Cryptographic Past of the Middle East
Reality is often more exciting than fiction.
Resolving the Intergenerational Prisoner's Dilemma: The Inevitable Path of Nomadic Capital Bitcoin
When the baby boomer generation collectively sells off, who will become the "greater fool" in the next round of asset crashes?
App