Bitcoin Market Trend Analysis 20250523

Bitcoin continues to maintain a strong high-level sideways trend, constantly setting new historical highs. Today, it has already reached a peak of $1,119,800, and the price will continue to rise, but not too aggressively. The target will be in the range of 115,000-120,000.

It is important to note that the MACD at the 6-hour and 8-hour levels has shown signs of insufficient upward momentum, indicating a decline in upward strength. Meanwhile, trading volume continues to decrease, so be cautious of a pullback after the surge.

There won't be a drastic drop at the daily level, but at the hourly level, there might be a rapid increase followed by a quick decline.

The pullback positions are at the 8-hour and 12-hour EMA 52, with current prices around 103,400 and 101,000.

Today is Friday, and if it maintains a high-level fluctuation without a drop, it can continue to oscillate on Saturday. Sunday afternoon, evening, and next Monday are likely to see a change in trend.

As long as Bitcoin doesn't drop, altcoins will continue to perform, and meme coins will also emerge.

The daily level resistance is at 1,115,000-1,204,500-1,310,000, with support at 1,034,000-1,005,400-966,700.