As of May 14, 2025, Bitcoin $BTC
is trading at approximately $103,947, reflecting a 1.42% increase over the previous day. The day's trading range spans from a low of $101,671 to a high of $104,836. 
📊 Technical Analysis: Momentum and Resistance
Bitcoin's price action indicates a cautious bullish trend:
Moving Averages: $BTC remains above its 20-day and 50-day Exponential Moving Averages (EMAs), currently at $102,822 and $100,890 respectively, suggesting short-term bullish control.
Relative Strength Index (RSI): The RSI on the 4-hour chart has dipped to 49, nearing neutral territory, indicating cooling buying pressure.
Resistance Levels: BTC has faced rejection near the $105,000 mark twice, a historically significant resistance zone. A decisive break above this level could pave the way toward the Fib 1.0 extension at $109,396.
🔍 Market Sentiment and On-Chain Indicators
Market sentiment remains cautiously optimistic:
Institutional Inflows: There has been a notable increase in institutional demand, with significant capital flowing into Bitcoin ETFs, reducing available supply on exchanges.
On-Chain Metrics: Glassnode reports a 20% increase in Bitcoin wallet addresses holding over 1 BTC as of May 13, indicating accumulation by larger players.
📈 Forecast and Key Levels to Watch
Analysts project that Bitcoin could reach between $108,000 and $110,000 in the near term, provided it sustains momentum above the $100,000 support level. A break above $105,000 with strong volume could signal further upside, while a drop below $98,000 might indicate a potential bearish reversal.
📌 Conclusion
Bitcoin's current price action reflects a market in consolidation, with bullish tendencies tempered by strong resistance levels. Traders should monitor key support and resistance zones, along with institutional activity and on-chain metrics, to
gauge potential future movements.