$BTC
A detailed technical analysis of Bitcoin (BTC) for Wednesday, May 14, 2025, based on the latest available data and indicators:
Current Price and Overall Performance
Current Price: Bitcoin is trading at around $103,604 with a slight increase of 0.08% over the past 24 hours
Weekly Performance: The currency recorded an increase of 8.62% over the past week
Key Technical Indicators
1. Moving Averages
Short and Medium-Term Averages: The simple moving averages for 5, 10, and 20 days show strong buy signals indicating ongoing bullish momentum
Long-Term Averages: The moving averages for 50, 100, and 200 days also indicate buy signals, reinforcing the positive outlook in the long term
2. Relative Strength Index
The RSI (14) is approximately 76.62, indicating that the market is in an overbought territory and there may be a possibility of a price correction soon
3. MACD Indicator
The MACD (12,26) registers a positive value of 4,061.83, supporting the current upward trend
4. Other Indicators
Indicate overbought territory, which may suggest an impending correction
Support and Resistance Levels
Key Support: Located at $102,000 and has proven strong in supporting the price during recent trades
Immediate Resistance: Noted at $105,000, and if breached, the price may target higher levels such as $108,956.89, followed by $112,000–115,000
