Bitcoin ($BTC ) Analysis (As of May 8, 2025)
1. Current Price: BTC is trading around $101,300, showing a strong uptrend with +4.67% in the last 24 hours.
2. Market Trend:
BTC is forming higher highs and higher lows, indicating bullish momentum. The RSI is above 50, and the MACD is showing strength.
Bullish Strategy (If You Think the Market Will Go Up)
Entry Price: Look to enter if BTC stays above $97,500 with strong buying volume.
Hold Price: Keep holding as long as the price remains above $95,449.
Breakout Level: If BTC breaks and closes above $102,642, that confirms a bullish breakout.
Target: First target is $106,000. If the uptrend continues, the long-term target could be $137,000.
Bearish Strategy (If the Market Starts Dropping)
Entry Price: If BTC breaks down below $94,200, it may be a good point to short.
Hold Price: Stay in the short trade if BTC is below $90,000.
Breakout Level (Bearish): A drop below $82,888 confirms strong bearish continuation.
Target: In this case, price may fall to $84,300, and possibly $75,000 if weakness continues.
Which Strategy Is Best for You?
Current momentum is bullish, with higher highs, strong RSI, and price above key moving averages. There’s no bearish breakdown yet.
So the bullish strategy is better right now, as long as BTC holds above $95,000.
What you should do:
Buy if price stays above $97,500
Target $106,000, and hold a portion for a long-term move toward $137,000
Use a stop-loss around $94,000 to protect your position