Here's my #Bitcoin (BTC) technical analysis as of Tuesday, May 13, 2025:
Current State:
- Trend: Strongly Bullish¹ ² ³ ⁴$
- Pattern: Rectangle Formation indicating potential breakout
Indicators:
- RSI: 73.86, indicating overbought conditions and potential pullback
- MACD: Bullish signal
- 71.43% of moving averages signals are bullish
Price Targets:
- Immediate resistance: $105,500
- Next resistance: $106,000
- Support levels: $78,000-$80,000
- Potential long-term targets: $110,000-$130,000, alternatively $235K
