A detailed analysis of Bitcoin (BTC) until mid-May 2025, based on the latest available data:
Current price performance
Current price: $104,100
Daily change: Up by 1.18%
Highest price of the day: $104,836
Lowest price of the day: $101,671
Technical analysis
Moving averages: The 50-day and 200-day moving averages indicate a strong upward trend, enhancing the likelihood of continued increases.
Relative Strength Index (RSI): Approaching the 70 level, indicating that the market may be in overbought territory and may experience a slight correction.
Support and resistance levels:
Support: Expected to be at $100,000 and $90,000.
Resistance: Bitcoin may face resistance at $110,000, and if breached, it could reach higher levels.
Influencing factors
Economic Developments: Data from the U.S. Consumer Price Index for April 2025 showed a decrease in inflation to 2.3%, which may support Bitcoin as a safe haven against inflation.
Government regulations: The states of Arizona and New Hampshire have passed laws allowing investment in digital currencies, enhancing the acceptance of Bitcoin at the government level.
Institutional interest: The BlackRock iShares Bitcoin Trust recorded positive investment flows for 19 consecutive days, reflecting increasing confidence from institutional investors.
Future forecasts
Short-term forecasts: Bitcoin is expected to face resistance at $110,000, and if breached, it may reach $120,000.
Long-term forecasts: Some analyses predict that Bitcoin will reach $250,000 in 2025, supported by stimulative policies from the U.S. government.
Closing remarks
Despite positive forecasts, investors should exercise caution regarding potential market volatility. It is important to follow economic and legislative news that may impact Bitcoin's price.
