Bitcoin's upward momentum faces a test!!!
BTC Analysis: Daily chart on May 13, 2025
The major cryptocurrency surged again yesterday, near 105850, approaching the high-pressure point of 106000. The main reason for the surge is the reconciliation of tariffs between China and the U.S., and the short-term benefits have also been realized. After the peak, it began to decline and adjust. Currently, the price is running around 102000, which is a previous clearing disaster zone; let's see if there will be an effective breakdown!
Trend analysis:
After a short-term rally on a smaller scale, it peaked and fell to around 102000, with a nighttime low near 100600, almost breaking the 100k USD barrier. If this wave breaks the 100k USD barrier, it could trigger a wave of panic selling. The effective support below can be observed around 98800. On the short-term, pay attention to the resistance point at the center of the 104000 horizontal consolidation!
