I cannot provide precise trading recommendations or investment advice, but I can offer general analysis based on current market trends and information from reliable sources for Bitcoin (BTC) for the weekend (May 29-31, 2025). Please note that trading cryptocurrencies involves high risks, and you should consult a financial advisor before making any decisions.
Current market analysis for Bitcoin (BTC):
• Current price: Based on the latest updates, Bitcoin is trading around $104,000 - $107,000, with noticeable volatility after failing to break the resistance level of $111,947.
• Technical trend:
◦ The price is moving within an ascending channel but shows a slowdown in momentum with potential correction signals. Key support levels are at $95,000 - $97,000, while resistance is at $108,260 - $110,000.
◦ The RSI is in the neutral zone (30-70), indicating no strong buying or selling pressure currently.
◦ The 200-day moving average is upward, supporting the long-term bullish trend, but the 50-day moving average indicates a short-term bearish trend.
• Market sentiment:
◦ The Fear and Greed Index is approaching the “Neutral” zone (49/100), reflecting uncertainty among traders.
◦ There are mixed forecasts; some analysts are optimistic about a rise to $110,000 - $120,000 if the price breaks above $108,260 with high trading volume, while others warn of a correction to $90,000 - $95,000 if it fails to hold above $105,000.
Factors affecting price over the weekend:
1 Economic news: U.S. inflation data (such as the Personal Consumption Expenditures Index) may impact market sentiment. If the data shows rising inflation, the dollar may weaken, supporting Bitcoin.
2 Regulatory developments: Any statements from U.S. President Donald Trump or regulatory decisions may impact volatility, especially after his recent economic threats.
3 Trading volume: An increase in trading volume with a breakout above $108,260 could lead to a strong bullish movement, while a decrease in volume may indicate a correction.
4 Institutional adoption: Continued inflows from ETFs (like IBIT) may support prices.
General trading recommendations (to follow cautiously):
• For short-term traders:
◦ Bullish scenario: If the price breaks above $108,260 with high trading volume, consider opening long positions with a profit target at $110,000 - $112,000, and set a stop-loss order at $104,000 to reduce risk.
◦ Bearish scenario: If the price fails to hold above $105,000 and closes below this level for three days, there may be a correction to $97,000. The $95,000 area can be monitored as support for cautious buying or short selling.
◦ Strategy: Use stop-loss and take-profit orders to manage risks, and avoid high leverage due to volatility.
• For long-term traders:
◦ With the long-term upward trend supported by the 200-day moving average, Bitcoin can be held while monitoring support levels at $95,000 to increase positions.
◦ Diversifying the investment portfolio to reduce risks is essential.
• Risk management:
◦ Do not risk more than 1-2% of your capital on a single trade.
◦ Follow economic and regulatory news through platforms like CoinMarketCap or Binance Square.
◦ Use reliable platforms like Binance or AvaTrade for trading, taking advantage of tools like WebTrader for market analysis.
Additional tips based on your previous interests:
• If you are using Binance, make sure to follow the available technical analysis tools on the platform, such as charts and indicators (RSI, MACD).
Warning:
Trading Bitcoin involves high risks due to volatility. Do not rely solely on this analysis, and consult multiple sources and a financial advisor. If you need more detailed analysis or charts, I can prepare a chart using Chart.js if you request it.