#BTCBreaksATH110K Introduction

On the morning of May 22, 2025, the price of Bitcoin (BTC) reached a new high of $111,880 on the hourly timeframe, according to the chart provided by TradingView. Let's take a brief analytical look at this high and recent developments.

Technical Analysis

Current Level: The chart shows that the price of Bitcoin reached $111,880, with a slight decrease of -0.5% recently, indicating short-term volatility.

Moving Averages (MAs): The moving averages (7, 25, and 99) show an upward trend, with the shorter averages (MA7 and MA25) crossing above the longer average (MA99), supporting the continuation of the upward momentum.

Bollinger Bands: The price is above the upper limit of the channel (UP 104,389), indicating that the market is in an overbought zone, with a potential correction coming.

Volume: A significant increase in volume over the past two days, especially near the top, reflects increased investor interest.

Pivot Point: Based on the recent high (111,880), low (103,800.00), and close (103,800.54), the key pivot point is around $106,493. Support and resistance levels include:

S1 Support: $101,106.

R1 Resistance: $111,880 (identical to the current high).

S2 Support: $98,411 (in case of a significant breakdown).

R2 Resistance: $117,267 (potential target if the upside continues).

Fibonacci Levels: Based on the range between the low (103,800) and high (111,880), the key levels are:

38.2%: $108,714 (potential support area for a correction).

50%: $107,840 (potential equilibrium point).

61.8%: $106,966 (strong support if the decline continues).

Expectations

The high of $111,880 represents strong resistance, but upward momentum could push the price towards $117,267 (R2) if it maintains above $111,000 with increasing volume support. In the event of a decline, support could be found at Fibonacci levels such as $108,714 or $107,840, with a strong base at $106,493 (the pivot point). Conclusion

The $111,880 high confirms Bitcoin's market strength, supported by clear technical momentum. Pivot and Fibonacci levels provide a precise framework for monitoring trends, with a focus on support at $106,493 and resistance at $117,267. Monitor developments in the coming hours to determine the next trend!