Bitcoin (BTC) Trade Setup for May 16, 2025
Technical Overview:
BTC is trading around $103,000, consolidating near key resistance levels with bullish momentum indicated by rising on-balance volume (OBV) and price holding above middle Bollinger Bands.
Immediate resistance to watch: $107,000, followed by $117,000 and $133,000 if BTC breaks its all-time high.
Support levels: $95,000 (minor), $92,000 (strong), and $85,000 (critical).
Trade Strategies:
Bullish Setup:
Entry: Consider going long if BTC sustains above $98,500–$100,000.
Target: $107,000 initially, then $117,000 to $133,000 on further breakout.
Stop-Loss: Place below $95,000 to limit downside risk.
Bearish Setup:
Entry: Short if BTC breaks below $92,000 with failure to hold $95,000 support.
Target: $85,000.
Stop-Loss: Above $95,000.
