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As of April 30, Bitcoin is up just 0.73% year-to-date. At first glance, that might not seem like much for an asset known for its volatility. But 2025 has already delivered some sharp moves that tell a deeper story. On April 7, Bitcoin was down 20% on the year. Since then, it has staged an impressive recovery and is now consolidating right around the yearly open at 93,548.

That rally has been driven by strong technical structure. After breaking above 88,000, Bitcoin has maintained a bullish posture across both the higher and lower timeframes. On the weekly chart, BTC respected the 50 EMA and formed a higher low from the major swing low around the 54,000s. It also remained well above the important November low at 66,810. These are key signs that the uptrend remains intact.

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Still, one big question is front and center for many traders: is this move just a lower high beneath the January peak around 110,000, or are we witnessing the start of a fresh push toward all-time highs?

Zooming into the four-hour chart, Bitcoin has shown a clean bullish market structure since breaking above the 80,000 level on April 9. Each pullback has been shallow and has resulted in a higher low. This type of price action speaks to demand stepping in at every dip and is typically a sign of strength.

Now that Bitcoin is back at the yearly open, we’re seeing what looks like an accumulation phase. Price isn’t aggressively expanding to the upside or downside. Instead, it’s moving sideways, which often sets the stage for the next breakout. If Bitcoin can hold above 93,548, the next key level on the radar is the round number milestone of 100,000.

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On the flip side, if Bitcoin fails to hold this level, there are several downside areas worth keeping an eye on:

• 91,619 – A clear swing low formed on April 24

• 90,561 – An old break-away gap on the four-hour chart

• 88,500 – A former major resistance zone that could flip to support if retested

Should Bitcoin start breaking down below 88,000, that would be a significant shift. It could signal that the weekly chart is forming a lower high, which opens the door for a deeper pullback toward levels like 74,000.