#BTC
BTC Technical Snapshot – May 12, 2025
Bitcoin (BTC) is currently trading at approximately $102,916, experiencing a slight pullback from its intraday high of $105,525. This movement follows the recent easing of U.S.-China trade tensions, which initially propelled BTC above the $105K mark.
From a technical standpoint, BTC has broken out of an inverse head-and-shoulders pattern against gold, suggesting potential for continued bullish momentum. However, the Relative Strength Index (RSI) indicates overbought conditions, implying that a short-term consolidation may occur before further upward movement.
Key resistance levels to monitor are at $107,000 and the all-time high of $109,000. On the downside, support is observed around $100,000, with stronger support near $92,000.
Market sentiment remains cautiously optimistic, bolstered by substantial inflows into Bitcoin ETFs and a favorable macroeconomic environment. Traders should remain vigilant for potential volatility, especially in response to upcoming economic data releases and geopolitical developments.
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