Bitcoin broke through the resistance level of 105820 on May 18, but the bulls could not maintain the upward momentum.
The market for Bitcoin has really been intense these past few days, with frequent liquidations in both directions. Conversely, as long as one seizes the right entry timing, making profits on both long and short positions is a very normal operation! Currently, the price is hovering around 106000, let's see if it continues to rise or if it will stabilize!
In terms of market trends:
On a smaller scale, a double top structure has just appeared here, let's see how much the pullback will be! For a downward trend to occur, it needs to break below the position near 104888. It is also important to monitor changes in market sentiment; if there are too many short positions entered here, it may actually rise for high leverage liquidation. The biggest resistance level above is the historical high of 110000 dollars, while the immediate support below is near 104888. If this support is broken, there could be further declines!
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BTC Analysis: May 20, 2025 Daily Chart
