Technical Analysis of Bitcoin Price #CryptoScamSurge
SpaceX's recent move to transfer 1,308 Bitcoins has reignited momentum in the cryptocurrency market, restoring confidence in the bullish trend. Technically, Bitcoin is currently trading near the $57,000 – $59,000 area, facing strong resistance at the $60,000 barrier. Breaking this level would push the price towards $63,000 then $65,000 in the short term.
On the other hand, the nearest support is located at $55,500, and if broken, the price may retest the $53,000 level.
Technical indicators like the RSI have begun to move toward overbought territory, suggesting the possibility of a temporary correction before continuing the upward trend.
Overall, the return of major companies like SpaceX to activity boosts investor confidence and may act as a catalyst for a new rise in the second half of 2025, especially with the increasing institutional adoption of Bitcoin.
