$BTC

BTC/USDT Analysis (May 29, 2025)

Bitcoin (BTC) is trading around $108,695, showing strong bullish momentum after breaking out of a falling wedge and completing a cup and handle pattern. These patterns suggest a continuation of the uptrend, especially if BTC holds above the $108,400–$108,900 resistance zone. A successful breakout could target $112,000+.

However, short-term caution is advised. BTC is currently struggling to stay above the Bollinger Band midline (~$109,700) on the 4-hour chart. A failure to maintain momentum may trigger a pullback toward $106,900 support.

Indicators like the RSI show neutral to slightly overbought conditions, suggesting possible consolidation before the next leg up. Moving averages support the bullish trend, with price above key levels.

In summary, the medium-term outlook remains bullish, but traders should watch for short-term resistance and potential retracements. A confirmed breakout above $109,700 could reignite strong buying pressure.