#Tradestories
As of May 14, 2025, Bitcoin (BTC) is trading around $103,654, reflecting a modest 0.25% gain on the day. The price action suggests a bullish trend continuation, with technical indicators pointing toward potential upward movement.
Technical Analysis:
Support Levels: Key support is identified near $102,900, which has recently acted as a pivot point.
Resistance Levels: Immediate resistance is observed around $104,450, with further resistance near $106,500.
Momentum Indicators: The Relative Strength Index (RSI) is at 52, indicating neutral momentum with room for upward movement. Blockchain News
Trade Setup:
Long Position: Consider entering between $102,500 and $103,300, targeting a take-profit (TP) range of $106,500 to $107,000.
Short-Term Strategy: Adopt a range trading approach within the $102,000 to $105,000 band, capitalizing on swing trading opportunities. TradingView
Market Sentiment:
The broader market sentiment remains bullish, with factors such as institutional accumulation and favorable macroeconomic conditions supporting the upward trajectory. However, traders should remain cautious of potential volatility and monitor key support and resistance levels closely.
Note: Always conduct your own research and consider risk management strategies before entering any trade.
