$BTC

Technical Analysis of Bitcoin – Dated May 8, 2025

Current Price:

Bitcoin is trading at $99,099.

24-Hour Change Percentage: +2.24%.

Daily Trading Range: $95,959 – $99,835.

Technical Indicators:

1. Moving Averages:

MA5, MA10, MA20, MA50, MA100, MA200 all indicate strong buy.

2. Momentum Indicators:

RSI: 72.84 → In overbought territory (possible correction).

MACD: 849.5 → Positive buy signal.

Williams %R: -0.092 → Strong buying momentum.

Structural Analysis and General Trend:

Overall Trend: Bullish.

Main Support: $96,000 – $97,800.

Current Resistance: $99,000 – $100,000.

Recommendation:

The currency shows strong upward momentum supported by technical indicators.

It is advisable to monitor the resistance at $100,000, as the price may face selling pressure or a strong breakout towards higher targets.

In case of a correction, the support area of $96,000 – $97,800 represents potential buying opportunities.

Sources of Analysis:

Investing.com

TradingView

Moomoo.com