Technical analysis of Bitcoin (BTC) for Thursday, May 8, 2025, based on the latest data and indicators:
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📊 Current Price
Current price: approximately $99,622, up by 2.5% over the past 24 hours.
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📈 Overall Trend and Technical Indicators
Structural trend: Bullish in the short and medium term, with the price continuing to trade above the key moving averages (50, 100, and 200-day).
Relative Strength Index (RSI): Recording 60.21, indicating a neutral area leaning towards buying.
MACD Indicator: Gives a buy signal, supporting the current bullish momentum.
TradingView Rating: "Strong Buy" signal on the daily timeframe, reflecting optimism among traders.
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🔍 Support and Resistance Levels
Main support: Ranges between $94,150 and $93,600, where buyers show strong interest at these levels.
Next resistance: Located at the $95,300 area, and if successfully breached, it may pave the way towards $98,000 levels and above.
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📌 Summary of Forecasts
Overall trend: Bullish, with positive momentum supported by technical indicators.
Positive scenario: Breaching resistance at $95,300 could drive the price towards $98,000 or higher.
Negative scenario: Breaking support at $92,700 could lead to a correction towards $90,000.
