#BTCRebound BTC As of May 3, 2025, Bitcoin (BTC) is trading at approximately $96,165, reflecting a modest decline of about 1.23% from the previous close.

Technical Analysis Overview

Recent technical indicators suggest a bullish momentum for BTC:

Support Levels: Key support is observed around $92,000, with a more substantial base at $85,000.

Resistance Levels: Immediate resistance is near the psychological mark of $100,000, followed by $107,000.

Chart Patterns: BTC has recently broken out from a descending channel and pennant formation, indicating potential for further upward movement.

Relative Strength Index (RSI): The RSI is currently neutral, suggesting that BTC is neither overbought nor oversold.

Market Sentiment and Predictions

Analysts present a range of forecasts for BTC's trajectory:

Short-Term Outlook: Predictions for May 2025 place BTC between $101,000 and $111,700, contingent on sustained bullish conditions.

Mid-Term Projections: Some experts anticipate BTC reaching $150,000 to $175,000 within the next 12 months, driven by institutional demand and reduced exchange supply.

Year-End Estimates: Standard Chartered forecasts BTC hitting $120,000 by Q2 2025, with a potential year-end target of $200,000, citing increased institutional adoption and macroeconomic factors.

Key Factors Influencing BTC's Movement

Institutional Adoption: Major firms like MicroStrategy are increasing their BTC holdings, signaling strong institutional confidence.

Regulatory Environment: The U.S. administration's crypto-friendly stance and potential stablecoin legislation are fostering a supportive environment for BTC.

Market Dynamics: A decrease in BTC supply on exchanges suggests accumulation by long-term holders, potentially reducing sell pressure.

This post is for informational purposes only and does not constitute financial advice. Always do your own research (DYOR) and consult with a professional financial advisor. Invest at your own risk.