$BTC

As of May 14, 2025, Bitcoin (BTC) is trading at approximately $103,708 on Binance, reflecting a modest intraday gain of 0.24%.

Technical Overview:

Support Levels:

Immediate: $102,700 (24h low)

Strong: $98,400 (1-day support)

Broader: $90,000–$92,000 (longer-term consolidation zone)

Resistance Levels:

Immediate: $104,085 (24h high)

Strong: $110,000 (1-hour resistance)

Indicators:

The Relative Strength Index (RSI) is approaching overbought territory, suggesting potential for short-term consolidation or a minor pullback.

A bullish crossover of short-term and long-term Exponential Moving Averages (EMAs) indicates sustained upward momentum.

Trade Considerations:

Long Positions:

A potential entry point lies between $96,177 and $96,449, following a breakout above descending trendline resistance.

Profit targets could be set at $103,624, $109,588, and $111,342, with a stop-loss around $92,755 to manage risk.

Short Positions:

Caution is advised against initiating short positions in the current bullish trend.

However, if BTC fails to break above $105,000 and exhibits signs of reversal, short opportunities may arise, targeting support levels at $97,700 and $91,100.

Market Sentiment:

The market sentiment remains bullish, with analysts projecting potential targets ranging from $135,000 to $150,000, contingent on BTC maintaining support above $91,000.

$BTC # btc