$BTC Exceeding 111,000 USD: Strong Upward Trend

Bitcoin (BTC) continues to record impressive growth as it surpasses the 111,000 USD mark on May 22, 2025, with the current price reaching 111,727.77 USD, up 4.37% in the last 24 hours. The trading chart on Binance shows a steady upward trend on the 4-hour timeframe, with trading volume reaching 51,522.75 BTC, equivalent to 5.758 trillion USD. This reflects strong market interest, especially as the highest price in 24 hours reached 111,744.50 USD.

Technical analysis shows that Bitcoin is moving within an upward price channel, with the 25 and 99 moving averages (MA) at 105,846.36 USD and 102,748.04 USD, respectively, both below the current price, confirming the upward trend. The MA 5 (108,409.44 USD) is also providing good support for the price, while the MACD (506.02) and DEA (1,000.62) indicators show positive signals. Trading volume (VOL) reached 8,432.079373 BTC, with green growth bars dominating, demonstrating strong buying pressure.

However, investors need to be cautious as the RSI (60.37%) is approaching overbought territory, which could signal a short-term correction. Additionally, the lowest price in 24 hours is 106,100.01 USD, indicating that Bitcoin may still face volatility. Important support levels to watch are 108,846.40 USD and 105,295.34 USD, while the next resistance level is at 112,393.47 USD.

The cryptocurrency market is more vibrant than ever, with Bitcoin leading the trend. Will this upward momentum continue or will it soon plateau? Investors should closely monitor technical indicators and news to make appropriate decisions.