As of 11:30 PM Beijing time on May 8, 2025, the Bitcoin ($BTC ) market has seen a significant breakthrough, with prices reaching a maximum of $100,888, setting a new short-term high.
From the candlestick chart, it can be clearly observed that the BTC price started a strong upward trend around 2 PM, quickly breaking through the psychological key level of $100,000. Accompanied by an increase in trading volume, the market sentiment has clearly turned optimistic, with bulls temporarily gaining the upper hand.
In terms of technical indicators, the Fast Oscillator and Slow Oscillator are both around 0.9, indicating that the price may enter an overbought state in the short term, and investors should be cautious about chasing higher prices. Meanwhile, the Volume Moving Average remains at a relatively high level of 52, showing that trading activity is high, and short-term market volatility is expected to continue to increase.
Given the rapid rise in a short time, short-term traders should pay attention to the support strength in the $100,000 to $100,500 range. If this area can be held firmly, it is expected to open up further upward space. However, if prices experience continuous pullbacks and fall below the $99,500 mark, caution is needed for the risk of profit-taking pressure in the short term.
In summary, short-term market sentiment is positive, but potential technical adjustment risks should be noted. It is recommended that investors flexibly adjust their positions based on oscillation indicators and changes in trading volume to seize short-term trading opportunities.