Gold prices have risen by 1.75%, reaching $3,349.65 per ounce, approaching the all-time intraday high of $3,500.05 set in April.
🔍 Market Insights:
Resistance Levels: $3,366, $3,400, and $3,480
Support Levels: $3,267, $3,200, and $3,150
📊 Trading Strategy:
Buy Entry: Consider buying near the support level of $3,210, targeting $3,400, with a stop loss at $3,160.
Sell Entry: Consider selling near the resistance level of $3,370, targeting $3,280, with a stop loss at $3,400.
⚠️ Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making trading decisions.
BTC Consolidates Around $103K – Awaiting Next Move
📊 Market Insight:
As of May 31, 2025, Bitcoin is trading at approximately $103,403 USD, experiencing a slight decline of about 2.35% over the past 24 hours. The intraday high reached $105,930, while the low touched $103,289. This consolidation follows a recent all-time high of over $111,000.
📈 Technical Highlight:
Support: $103,000
Resistance: $106,000
Key Level to Watch: $100,000 (psychological support)
💬 My Take:
Bitcoin is currently in a consolidation phase after its recent peak. The market is showing signs of indecision, and a breakout in either direction could set the tone for the coming weeks. I'm monitoring the $100K support closely; a break below could indicate a deeper correction, while a move above $106K might signal renewed bullish momentum.
📌 Tip of the Day:
📌 In volatile markets, it's crucial to manage risk and avoid over-leveraging.