$BTC Recently broke out of a cup-and-handle pattern, confirming a trend reversal from March 2025 lows.

A double bottom near $76,000 supports bullish reversal strength.

The price is within a rising trend channel long-term, with a breakout above a falling trend channel in the medium term, indicating a slower falling rate or horizontal development.

Support Levels:

Immediate support at $87,500-$88,500, with the 200-day EMA at ~$85,300 as a stronger cushion.

Additional support near $90,000-$92,000, where consolidation has occurred.

Resistance Levels:

Key resistance at $95,000-$97,500, with the psychological $100,000 barrier looming.

A break above $96,000-$97,000 could target a retest of $109,000 or new highs.

Technical Indicators

Moving Averages (MAs):

50-day SMA: ~$85,370, currently below the price, acting as potential support. It’s projected to rise to $108,015 by May 28, 2025, indicating a bullish intermediate trend.

200-day SMA: ~$94,180, also below the price, sloping upward since January 30, 2025, signaling a strong long-term trend.

On the 4-hour chart, the 50-day MA is rising, supporting a bullish short-term trend, but the daily chart shows a bearish tilt with the 50-day MA falling below the price.

Relative Strength Index (RSI):

RSI is at 65.80 (neutral) on the daily chart, indicating neither overbought nor oversold conditions.

Some sources note RSI nearing overbought at 67.9, suggesting a potential short-term cooling.

On the 4-hour chart, RSI is in the 30-70 neutral zone, supporting price stability.

Bullish Case:

A break above $96,000-$97,500 could push BTC toward $100,000 by month-end, supported by strong institutional inflows and bullish chart patterns.

Elliott Wave analysis suggests BTC could climb to $97,800 this week if the fifth impulse wave continues.

Bearish Case:

Failure to break $95,000-$97,000 may lead to consolidation or a pullback to $90,000-$92,000, especially if RSI approaches overbought levels or a bearish MACD cross emerges.

Not Financial Advice, DYOR!!