Technical Analysis of Bitcoin (BTC) - Future Outlook for May/June 2025
Bitcoin's recent movement shows volatility within a horizontal range between $60,500 and $64,800, with ongoing attempts to break the key resistance at $65,000. This behavior reflects a state of caution and anticipation in the markets after the corrections we witnessed in March and April.
Current Technical Data:
The 50-day moving average is still supporting the price around the $62,000 level.
The Relative Strength Index (RSI) is currently moving in neutral territory between 50-55, which does not provide strong signals for buying or selling.
The pivotal support level is at $60,000, where it is expected to form an important pivot point if selling pressure continues.
The first resistance level is concentrated at $65,000, and breaking it would push the price towards $68,000 and then $70,000 in the short term.
Expected Scenarios:
1. Positive Scenario: If Bitcoin succeeds in breaking the psychological resistance at $65,000 with strong trading volumes, we may witness a bullish wave targeting $68,500 and then $70,000.
2. Negative Scenario: If the price fails to hold above $62,000, corrective movements towards $60,000 and then $58,500 may reoccur.
Summary:
The overall trend remains neutral to bullish as long as prices maintain levels above $60,000. Cautious monitoring is preferred while observing the mentioned support and resistance levels.
