As of May 8, 2025, Bitcoin (BTC) has shown a moderate upward trend in the past hour, breaking the $99,500 mark, with a peak reaching $100,131, demonstrating the market's positive attempt to break through psychological barriers.
In terms of technical indicators, the short-term moving averages in the hourly chart (such as the 10-period and 20-period SMA) have slightly risen, indicating that buying pressure has increased in the short term. However, the Relative Strength Index (RSI) is close to the overbought region, suggesting a potential risk of a pullback in the short term.
Regarding support levels, the key support level in the short term is around $98,000. If the price falls back to that area, it may attract new buying interest. Resistance levels are concentrated in the $100,000 to $100,500 range, and breaking through this area could open up space for further increases. Bitcoin News
Overall, Bitcoin has shown some upward momentum in the hour, but caution is advised regarding the risk of a pullback in the short term. Investors are advised to closely monitor the performance of key support and resistance levels to formulate corresponding trading strategies.
