Analysis date: May 7, 2025
Price at publication: $96,887
Daily increase percentage: +3.2%
Highest price today: $97,732.00
Lowest price today: $94,080.09
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📢 The most important news:
Bitcoin continues its rise driven by optimism regarding trade talks between the United States and China, boosting demand for digital assets. Additionally, on-chain data shows increased confidence among short-term and long-term investors, with the $99,900 level identified as a potential profit-taking point.
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📊 Technical analysis:
Current support: $94,545
Next resistance: $97,996
RSI: At 66.14 – indicates strong positive momentum, but close to overbought areas.
MACD: Clear bullish crossover on the daily timeframe
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✅ Positive factors and opportunities:
Strong momentum driven by positive news: Optimism about trade talks boosts demand for Bitcoin.
Increase in trading volume: A clear rise in volume indicates growing interest from investors.
Positive forecasts: Some analysts expect the rise to continue if the current resistance is broken.
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⚠️ Risks:
Overbought: The RSI indicator suggests a potential price correction soon.
Market volatility: The market may experience fluctuations affecting the currency's price.
Strong resistance levels: The $97,996 level may pose a barrier to continued upward movement.
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📌 My personal opinion:
Bitcoin shows strong momentum, but caution is needed regarding overbought conditions.
For traders: A chance to enter with a stop loss below $94,545.
For investors: Waiting for confirmation of the resistance break at $97,996 may be safer.
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