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Bitcoin Analysis Today – May 7, 2025
Current Price:
$96,805 (up 3.2% over 24 hours)
Technical Analysis:
Trend: Bullish
50-Day Moving Average: Support for positive momentum
MACD: Positive crossover
RSI: In the neutral zone
Support and Resistance Levels:
Support: $94,545 and $92,265
Resistance: $97,996, $99,167, and $101,447
Forecast:
Price is expected to rise by 24.86% to reach $121,243 by May 12, 2025
Summary:
Bitcoin is on an upward trajectory supported by technical indicators, with the potential for continued rise if the nearby resistance is broken.
