*"Bitcoin on the front line! Is BTC preparing to break the 64 thousand mark again?"*
Technical analysis for BTC – dated May 10, 2025
Bitcoin is currently moving in a sideways range between $61,200 and $63,500, with repeated attempts to break resistance. The price is stable above the short-term moving averages, indicating the continuation of upward momentum, but the market is waiting for the spark to ignite!
Quick technical data:
MA(7) is above MA(25): a positive signal for continued upward movement.
RSI around 58, providing room for upward movement without being overbought.
An ascending triangle pattern is forming, which is often broken upward if confirmed.
Proposed trading plan:
Buy: after a clear break of the $63,500 level with a strong 4-hour candle.
First target: $65,000
Second target: $67,200
Stop loss: below $61,000
Quick tip:
Be smart! Don't enter before you see a confirming candle breaking resistance, along with high trading volume. The market is currently somewhat asleep, but it just takes one spark to ignite it!
