Today, May 22, 2025, the price of Bitcoin (BTC) has reached a new all-time high, surpassing $110,000 for the first time in history. Specifically, BTC is trading around $110,565, up about 3.43% in the last 24 hours.
📈 Technical analysis and trends
Technical pattern: Bitcoin is currently following a 'rising wedge' pattern, which often signals a potential bearish reversal. However, the formation of a 'golden cross' – when the 50-day moving average crosses above the 200-day moving average – indicates that the upward trend remains strong.
Important support and resistance levels:
Support: $107,000, $100,000 (psychological level), and $92,000.
Resistance: $110,885 and the next target could be $120,000.
Short-term forecast: Some analysts predict BTC could reach $120,000 in the coming weeks, and may even aim for $150,000 if the upward trend continues.
🏛️ Macroeconomic factors and supportive news
Cryptocurrency policy in the US: The US Senate's passage of a bill regulating stablecoins and JPMorgan Chase allowing customers to buy Bitcoin has boosted investor confidence.
Institutional investment: MicroStrategy has purchased an additional $765 million in BTC, raising the total value of its holdings to over $63 billion.$BTC
US government policy: President Trump signed an executive order to establish a 'Strategic Bitcoin Reserve' to stockpile BTC as a national asset, demonstrating a strong commitment to cryptocurrency.
⚠️ Risks and notes
Overbought signal: The RSI indicates that BTC is in the overbought zone, which may lead to a short-term price correction.
Profit-taking activity: Some long-term wallets (OG wallets) have started selling as prices peak, which may create short-term downward pressure.
