#TradeOfTheWeek
Bitcoin Market Update – May 10, 2025
Bitcoin (BTC) has maintained its bullish momentum, trading around $103,545 today, with intraday highs reaching $103,954. This surge is attributed to strong institutional inflows and growing investor confidence, as BTC decisively broke past the critical $100,000 psychological level.
Technical analysis indicates that BTC has broken out of a multi-day flag formation, pushing price action to test a key resistance zone near $103,700–$104,000. If BTC can sustain above this resistance, the next upside target is projected around $109,396, based on weekly Fibonacci levels.
Trade Signal: Consider entering a long position on BTC at current levels, targeting $109,000, with a stop-loss at $101,000 to manage risk.
*Note: This post is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.*