Bitcoin ($BTC ) Technical Analysis – [May 16, 2025]

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Current State

Trend: Extremely Bullish¹

Pattern: Breakout above the key $103,000 resistance level, continuing to push higher

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Technical Indicators

RSI (Relative Strength Index): 76.42

Overbought territory – potential for a minor pullback or consolidation

MACD (Moving Average Convergence Divergence): Strong bullish crossover and rising histogram

Moving Averages:

85.71% of key moving averages (e.g., 20 EMA, 50 MA, 100 MA, 200 MA) flashing bullish signals

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Key Price Levels

Immediate Resistance: $105,500

Next Resistance: $108,000

Support Levels:

First: $98,000

Deeper: $96,500

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Long-Term Price Targets

Upside Projections:

$110,000

$115,000

$120,000