Technical Analysis of Bitcoin (BTC) - Outlook for May/June 2025

The recent movement of Bitcoin shows fluctuations within a sideways range between levels of $60,500 and $64,800, with ongoing attempts to break the main resistance at $65,000. This behavior reflects a state of caution and anticipation in the markets following the corrections we witnessed in March and April.

Current technical data:

The 50-day moving average is still supporting the price around the level of $62,000.

The Relative Strength Index (RSI) is currently moving in neutral areas between 50-55, which does not provide strong signals for buying or selling.

The pivotal support level is located 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 will push the price towards $68,000 and then $70,000 in the short term.

Expected scenarios:

1. Positive scenario: If Bitcoin successfully breaks the psychological resistance at $65,000 with strong trading volumes, we may witness a wave of rise targeting $68,500 and then $70,000.

2. Negative scenario: If the price fails to stabilize above $62,000, correction moves may renew towards $60,000 and then $58,500.

The general trend remains neutral leaning towards a rise as long as prices maintain levels above $60,000. Cautious monitoring is preferred while observing the mentioned support and resistance levels.