Technical analysis of Bitcoin’s (BTC/USD) price movements over the past week, highlighting key levels, patterns, and market sentiment as of May 20, 2025.

📈 Bitcoin Weekly Technical Snapshot

Current Price: $104,787

Weekly Range: $101,000 – $106,700

Weekly Close: $106,669 (May 19)

Trend: Bullish continuation within an ascending channel

Key Support Levels: $101,300, $106,000

Key Resistance Levels: $108,000, $110,000

🔍 Technical Patterns & Indicators

Ascending Channel: Bitcoin continues to trade within a well-defined ascending channel, indicating a sustained uptrend.

Bullish Triangle Formation: A bullish triangle pattern has formed, suggesting potential for an upward breakout if resistance levels are breached.

Support at $106K: The $106,000 level has acted as a strong support, with buyers stepping in to maintain the uptrend.

Breakout Potential: A decisive move above $108,000 could trigger a rally towards $120,000, while a drop below $101,300 might lead to a retest of lower support levels.

📊 Market Sentiment & On-Chain Metrics

Spot Bitcoin ETF Inflows: U.S.-based spot Bitcoin ETFs have seen significant capital inflows, totaling $6.4 billion over the last four weeks, indicating strong institutional demand.

Investor Sentiment: The Bitcoin Fear and Greed Index stands at 74, reflecting a "greed" sentiment, which often precedes bullish market movements.

🔮 Outlook

Bitcoin's technical indicators suggest a bullish bias, with the potential for further gains if resistance levels are overcome. However, traders should monitor key support levels, as a break below could signal a short-term correction. Overall, the market sentiment remains positive, supported by institutional inflows and favorable on-chain metrics.

*Note: This analysis is based on data available as of May 20, 2025, and is intended for informational purposes only. Always conduct your own research before making investment decisions.

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