$BTC š Technical Analysis of Bitcoin ā May 10, 2025
Bitcoin remains strong above $103,000, consolidating its position after surpassing the $100,000 mark. This bullish movement has been driven by positive macroeconomic factors and renewed institutional interest.
š Key levels:
Immediate resistance: $104,159
Upper resistance: $107,000 ā $109,000
Immediate support: $100,000
Critical support: $92,000
š Technical indicators:
Daily RSI: Above 70, indicating overbought conditions and possible short-term correction.
Trading volume: Increasing, which supports the current bullish trend.
š° Fundamental factors:
Optimism regarding trade negotiations between the U.S. and China has strengthened confidence in risk assets, including cryptocurrencies.
The recent approval of Bitcoin ETFs has facilitated access for institutional investors to the market, increasing demand.
Analysts project a potential push towards $117,000 if current conditions persist.
š Conclusion:
Bitcoin shows a strong bullish trend, supported by technical and fundamental factors. However, it is crucial to monitor the mentioned support and resistance levels, as well as to be alert to possible corrections in the short term due to overbought conditions.
Daily advice for patient holders: Sometimes it's not about trading more... but about trading better. Analyze, breathe, and remember: "He who chases the price rarely catches it." #CriptoConEstilo #HODL #BinanceFeed
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