Technical Analysis of Bitcoin – May 3, 2025

1. Current Price:

$97,900 (approximately)

2. General Trend:

Bullish in the short and medium term. The price has risen more than 15% in two weeks, driven by record institutional inflows into ETFs like BlackRock's IBIT.

Key Indicators:

• Moving Average (MA):

MA50: $91,000 → relevant dynamic support

MA200: $76,000 → confirmed long-term bullish trend

• RSI (Relative Strength Index):

RSI: 72

In overbought territory, but has not shown bearish divergences. Possible consolidation or slight correction before continuing.

• MACD:

MACD crossing upward its signal since April 25.

Strong bullish momentum signal.

Key Levels:

• Supports:

$94,500: immediate support

$91,000: support above MA50

$87,300: previous consolidation level

• Resistances:

$99,000: immediate psychological resistance

$100,800: previous all-time high

$109,000: projected target by traders after the ETF rally

Short-term Projection (5-10 days):

Most likely scenario: Consolidation between $95,000 and $100,000. If it breaks through the $100K level with volume, it may start a new bullish wave towards $109K.

Technical Recommendations:

Short term: Wait for a clear break of the $100K level before entering strongly.

Medium term (swing): Good accumulation zone between $91K and $95K if there is a pullback.

Suggested stop-loss: $89,000 if MA50 is lost with volume.