BTC Analysis: Daily Chart for May 5, 2025
Brothers, how was your holiday? During the holiday, Bitcoin surged to around 98,000, which is 1,000 points away from the 98,800 level that Sister Sheng mentioned earlier. It has now dropped back to a low of 93,500, with a slight rebound back to around 94,300. Pay attention to signs of a bottoming out here and the strength of the rebound!
In terms of trends:
On a smaller time frame, we are still within the previously mentioned range. The price began to drop without touching the pressure at the high, and it is now in the middle of the range. Watch if the price can reclaim the level above 95,500. On the downside, briefly monitor the low points; if it breaks below, continue to pay attention to the support around the lower range at 91,800!
