#BinanceAlpha$1.7MRewardTechnical Analysis of Bitcoin (BTC) – May 17, 2025

Current price: approximately $103,178, slightly down by 1.08% over the past 24 hours.

📊 Technical Overview:

Bull Flag Pattern: Charts show the formation of a bull flag pattern over the past two weeks, indicating the potential for a continuation of the upward trend.

Strong Resistance Level: Between $109,000 and **$112,000**, representing a crossover between a horizontal ceiling and a long-term upward trend line, making it an important barrier for the price.

Critical Support Levels:

**$94,000:** An ascending support line that has been tested multiple times, considered a major support level.

**$74,000 – $70,000:** A strong support area, which has seen institutional buying interest in the past.

🔄 Technical Indicators:

RSI: Shows slight overbought conditions, which may indicate the potential for a short-term correction.

MACD: Still in the positive zone, supporting the continuation of the upward trend later.

📈 Potential Scenarios:

Bullish Breakout: If the price exceeds $105,000, it may target the resistance area between $109,000 – $112,000.

Bearish Correction: If the price fails to maintain support at $94,000, it may head towards the next support area between $74,000 – $70,000.

📌 Note: Data shows a 37% chance for Bitcoin to reach $110,000 during May,