📊 Bitcoin Market Overview – May 28, 2025

Bitcoin (BTC) is currently trading around $108,896, experiencing a slight decline of approximately 0.7% for the day. The price reached an intraday high of $110,425 and a low of $108,616, indicating a period of consolidation near the $109,000 level.

🔍 Technical Analysis

Support Levels: Immediate support is observed at $108,825. A breach below this could lead to further downside towards $106,505.

Resistance Levels: On the upside, resistance is seen at $110,155, followed by $112,960. Sustained trading above these levels could signal a continuation of the bullish trend.

Trend Indicators: The Relative Strength Index (RSI) remains neutral, suggesting a balance between buying and selling pressures. Moving averages indicate a short-term upward trend, but caution is warranted as the price approaches key resistance levels.

📈 Price Forecast

Given the current market conditions and technical indicators:

Bullish Scenario: If Bitcoin maintains support above $108,825 and breaks through $110,155, it could target $112,960 in the short term. A sustained rally might see prices reaching $117,200 to $119,000.

Bearish Scenario: A drop below $108,825 could lead to a decline towards $106,505. Further weakness might expose the market to levels around $104,520. $BTC

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