$BTC As of May 10, 2025, Bitcoin (BTC) is trading at approximately $103,210, reflecting a modest daily gain of about 0.56%. The day's trading range has seen lows of $102,387 and highs reaching $103,978.

๐Ÿ“ˆ Technical Outlook

Immediate Resistance: $103,700โ€“$104,000. A decisive breakout above this zone could propel BTC toward $105,000 and potentially up to $109,396, according to Fibonacci projections.

Support Levels: Key supports are identified at $101,800, with further cushions at $97,500 and $96,000 in case of a pullback.

Momentum Indicators: The Relative Strength Index (RSI) on the 30-minute chart stands at 64.28, indicating cooling momentum from overbought conditions. The MACD histogram is flattening, suggesting a potential slowdown in bullish momentum.

๐Ÿ“ฐ Market Sentiment

Bitcoin's recent surge past the $100,000 mark has been bolstered by positive developments, including a new U.S.-U.K. trade agreement and optimism surrounding upcoming U.S.-China trade talks. These factors have contributed to a nearly 40% rebound from April lows. Analysts suggest that if the rally continues, BTC could target resistance near $107,000, with a projected upside toward $120,000.

๐Ÿ”ฎ Short-Term Forecasts

CoinCodex: Predicts BTC reaching $104,278 today, with potential growth to $126,113 by May 14.

Binance: Projects a slight increase to $103,257.94 by tomorrow.

Anticipates BTC trading between $108,000 and $110,000 in May, provided it maintains levels above the 9-day Simple Moving Average.

โœ… Summary

Bitcoin is exhibiting a bullish trend, with strong institutional interest and favorable macroeconomic factors supporting its ascent. However, traders should monitor key resistance and support levels, as well as momentum indicators, to gauge the sustainability of the current rally.