The price of Bitcoin (BTC/USDT) today, Tuesday, May 21, 2025, has seen a noticeable increase, reaching a daily high of $107,985, reflecting a strong bullish momentum. At the time of writing, the price is stabilizing around $107,370, up by +2.77% over the past 24 hours. The most pressing question now is: Can we witness a breakout towards the $110,000 level in the coming hours or days?
🔹 Quick technical outlook:
Moving averages indicate strong technical support:
EMA(7): at 106,959
EMA(25): at 106,740
EMA(99): at 106,436
The crossover of these averages gives a positive signal for continued upward movement in the short term.
The RSI (12) indicator is in the 66.92 area, close to the overbought zone (70), indicating that there is strong upward momentum, but it may face nearby resistance.
The MACD indicator shows a positive crossover (MACD: 109.61) with an increase in green bars, signaling the continuation of the upward trend in the near term.
The StochRSI indicator is in the 79.89 area, indicating a slight correction may occur before continuing the rise.
🔹 Important technical levels:
Nearby resistance: 107,985 (daily high)
Next resistance: 108,500 then 110,000 dollars
Nearby support: 106,800 then 106,100 dollars (daily low)
🔹 Will we reach $110,000?
With Bitcoin consistently surpassing the 107,000 level and breaking the previous daily high of 107,985, the path to $110,000 becomes closer than ever. If the bullish momentum continues and liquidity increases in the coming hours, a breakout through this psychological barrier is very possible, especially with the strong technical support evident in the chart.
⚠️ But:
Caution should be exercised regarding temporary corrections.
Any failure to surpass 108,000 may bring the price back to test the support at 106,100.
Trading volume plays a crucial role in determining whether the rise is sustainable or not.
🚀 Summary:
The current technical situation supports the bullish scenario, and the likelihood of Bitcoin reaching $110,000 in the next 24 hours or in the coming few days has become plausible, provided that the current momentum is maintained and resistance at 108,000 – 109,000 is surpassed.
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