Looking at the previous day (Thursday, May 15, 2025):
Price:
* Bitcoin closed on May 15 at around $102,769.00.
* This was a slight decrease of $-785.05 from the previous day.
Technical Analysis:
* In the short term: Bitcoin shows strong development within an upward trend channel, indicating increasing optimism among investors and the possibility of continued rises. There is no clear resistance in the price chart, and the positive volume balance indicates that volume is high on days of price increases and low on days of decreases, which strengthens the currency. Overall, Bitcoin is assessed as technically positive in the short term.
* In the medium term: Bitcoin is trading in a long-term upward trend channel, indicating that investors have bought the currency at higher prices over time and suggests good development for the currency. The price is approaching resistance at around $105,500, which may lead to a negative reaction. However, a bullish breakout above this level would be a positive signal. The volume balance is positive and strengthens the currency in the short term. The Relative Strength Index (RSI) above 70 after a good price increase over the past weeks indicates strong positive momentum, but it may also suggest overbought conditions and the likelihood of a downward reaction, especially for large stocks. There is negative divergence between the RSI and the price, indicating the risk of a downward reaction. Overall, Bitcoin is assessed as technically weakly positive in the medium to long term.
Summary:
Overall, there seems to be upward momentum in the short and medium term, despite some warning signals in the medium term such as the negative divergence of the Relative Strength Index.
Important Note: This is a technical analysis of the previous day and does not constitute investment advice. The cryptocurrency market is extremely volatile, and you should do your own research before making any investment decisions.
