BTC Price Aiming for New Historical Highs
BTC Analysis: Daily Chart on May 12, 2025
Bitcoin is still maintaining a high sideways consolidation, with the current high price around 105200. It has now pulled back to around 103800. Although it has not yet reached the previously mentioned high daily level short-term resistance near 106000, it is gradually rising. Let's see if it continues to consolidate this week or goes for a pullback!
In terms of trends:
On a smaller scale, the highs are gradually reaching new highs, and the lows are also slowly rising. Short-term support is still around 102000, which was previously a disaster area but has now become support! On the upside, continue to pay attention to the daily resistance near 106000 and the historical new high!
Operational Advice:
The risk at this position for Bitcoin is quite high, and the cost-effectiveness of chasing the rise is not high anymore. It may be better to pay more attention to altcoins for catch-up and the bull market effect!
