๐ Bitcoin (BTC) Technical Analysis โ May 23, 2025
๐ BTC continues its bullish trajectory, currently trading around $111,400, maintaining strength after breaking past the critical $110K psychological barrier.
๐ Key Highlights:
Golden Cross Formed ๐
The 50-day MA has crossed above the 200-day MA, a classic bullish signal indicating long-term upward momentum.
Rising Wedge Formation โ ๏ธ
While price action remains strong, the formation of a rising wedge suggests a potential short-term pullbackโtraders should watch volume closely.
Volume Profile๐
Strong institutional buying and consistent volume above $100K reinforces bullish sentiment.
๐ Support & Resistance:
Support: $107K, $100K
Resistance: $113K, $120K
A clean break above $113K could send BTC targeting the $120K zone.
๐ง Market Sentiment:
The trend remains bullish, but overbought conditions and technical resistance at \$113K warrant cautious optimism. A retest of $107K could offer a healthy consolidation.
๐ท๏ธ Hashtags:
#BTC #bitcoin #BinanceSquare #cryptotrading #TechnicalAnalysis #GoldenCross #BullishTrend #WriteToEarn #BinanceCommunity
โ ๏ธ Disclaimer:
This content is for educational and informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a financial advisor before making any investment decisions. Cryptocurrency markets are highly volatile and involve significant risk.
