As of 11:30 AM New York Time on May 8, 2025, Bitcoin ($BTC ) has made a significant breakout, reaching a new short-term high at $100,888.
The K-line chart clearly shows that BTC initiated a strong upward movement around 2:00 PM, swiftly surpassing the crucial psychological resistance at $100,000. With increasing trade volume, market sentiment turned distinctly bullish, and buying momentum temporarily took control.
From a technical perspective, both the Fast Oscillator and Slow Oscillator indicators are hovering around 0.9, suggesting that BTC may currently be in an overbought condition, advising caution against aggressive buying. Concurrently, the Volume Moving Average (Volume MA) remains relatively high at 52, indicating sustained trading activity and heightened volatility in the short term.
Given this rapid surge, short-term traders should closely monitor support between $100,000 and $100,500. Holding firmly within this range could potentially trigger further upside. However, a sustained pullback below the $99,500 threshold might signal profit-taking and introduce downward pressure.
In summary, although short-term market sentiment appears positive, investors must remain alert to potential technical corrections. It is advisable to adjust positions flexibly by observing oscillator signals and volume changes to effectively seize short-term trading opportunities.