$BTC Technical Overview (May 23, 2025)
Current Situation
- **Price:** ~$112,000
- **Key Levels:**
- **Resistance:** $113,500 (long-term trendline)
- **Support:** $103,600 (bounce zone)
- **Indicators:**
- **RSI:** In a high zone, potential overheating
- **MACD:** Bullish trend, but a possible reversal
- **Fibonacci:** Target $118,187 (100% wave 1 extension)
Entry Considerations
- Long: A breakout above $113,500 could confirm further growth.
- Short: Reversal signs (RSI divergence, MACD crossover down) may indicate a correction.
- Altcoins: Some are showing strength against BTC, worth monitoring.
Investor Sentiment.
- Optimistic Predictions:
- $116,000–$128,000– next resistance zone.
- **$250,000** – long-term target based on institutional demand.
- Cautious Outlook:
- Most traders are still in shorts on major exchanges.
- Economic instability could impact the market.
Conclusion.
BTC is at a critical point. A breakout above $113,500 may confirm further upside, but overheated indicators suggest a potential correction. Investors are divided between bullish projections and caution.