As of May 13, 2025, Bitcoin (BTC) is trading at approximately $102,922, reflecting a slight decline of 0.01% from the previous close. The 4-hour chart indicates a consolidation phase, with the price moving within a narrowing range between $92,000 and $98,000.
Technical Indicators:
Moving Averages: The 50-period moving average on the 4-hour chart is trending upward, suggesting short-term bullish momentum. However, the 200-period moving average has been declining since mid-March, indicating a weaker long-term trend.
Relative Strength Index (RSI): The RSI is currently within the neutral zone (30-70), implying that the market is neither overbought nor oversold, and the price may continue to consolidate within the current range.
Chart Patterns: A double-bottom pattern has formed around the $91,320 level, a classic reversal signal. The price is approaching the previous high at $99,730.75; a breakout above this resistance could open the path toward $108,000
Key Levels to Watch:
Resistance: $98,000 – $99,730.75
Support: $92,000 – $94,000
A decisive move above the $99,730.75 resistance level could signal a bullish breakout, potentially targeting $108,000. Conversely, a drop below the $92,000 support may lead to a retest of the $88,000 level. Traders should monitor volume and momentum indicators closely to confirm the direction of the next significant move
