Technical Analysis of Bitcoin - Dated May 8, 2025

Current Price:

Bitcoin is trading at $99,099.

24-Hour Change Percentage: +2.24%.

Daily Trading Range: $95,959 – $99,835.

Technical Indicators:

1. Moving Averages:

MA5, MA10, MA20, MA50, MA100, MA200 all indicate strong buy.

2. Momentum Indicators:

RSI: 72.84 → In the overbought zone (potential correction).

MACD: 849.5 → Positive buy signal.

Williams %R: -0.092 → Strong buying momentum.

Structural Analysis and General Trend:

General Trend: Upward.

Key Support: $96,000 – $97,800.

Current Resistance: $99,000 – $100,000.