$BTC

Bitcoin (BTC) Technical Analysis – May 9, 2025

Bitcoin is currently trading around $103,000 after breaking above the key psychological level of $100,000, showing strong bullish momentum.

Key Levels:

Support: $102,348 is the first support. If broken, further support lies at $101,457 and $99,125.

Resistance: Immediate resistance is at $104,337, followed by $106,151 and $108,746. A breakout above these could push BTC higher.

Technical Indicators:

RSI: Currently in the overbought zone, signaling a potential short-term correction.

Moving Averages: BTC is trading above the 50-day and 100-day moving averages, reinforcing the bullish trend.

Outlook:

Momentum remains strong, but caution is advised due to overbought signals. Traders should watch for potential pullbacks and key breakout levels before entering new positions.