#BTCBreaksATH110K
📈 Technical Analysis of Bitcoin Price – Friday, May 23, 2025
Current Price: Approximately $111,100
Highest Price of the Week: $111,825 (Recorded on May 22)
Lowest Price of the Week: Approximately $102,000
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🔍 Comparison to Last Week's Performance
Closing Price on May 16: $103,126
Weekly Increase: Approximately **7.7%**
Bitcoin has seen a notable increase over the week, surpassing the $110,000 mark, supported by strong buying momentum.
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📊 Technical Analysis
Overall Trend: Bullish, with strong resistance at $111,800.
Technical Indicators:
The Relative Strength Index (RSI) indicates that the market is approaching overbought territory, which may signal a potential correction.
Support Levels: $106,000 and $102,000.
Resistance Levels: $111,800 and $114,000.
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🔮 Future Predictions
According to forecasts from CoinCodex, the price of Bitcoin could reach $129,096 by the end of May, representing a potential increase of 23.59%.
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📝 Summary
Bitcoin shows clear buying strength, but as it approaches significant resistance levels, investors are advised to exercise caution and closely monitor the market for potential short-term price corrections.