2025.5.17 BTC Market Analysis

In the morning, the market bounced back slightly after testing the daily support level again. Currently, the market is stuck at the daily support without breaking below it, and despite multiple attempts to test lower levels, it has not broken through. Today, being the weekend, the market volatility is not expected to be significant, and since the price action is in a daily range, short-term traders can focus on the top resistance and bottom support levels. Currently, the four-hour support level has been breached; however, this rebound has once again reached the four-hour resistance at 103700. It is essential to observe whether this resistance can be broken during the four-hour close. If the four-hour close breaks above 103700 again, it would stabilize the bulls at the four-hour level, and the market may continue to push higher, with upper target resistances at 104500, 105000, and 105800. If it manages to reach the second and third resistance levels, one could consider shorting, keeping a good stop-loss. As long as the four-hour close does not stabilize above 103700, the market is expected to pull back at the four-hour level, with lower target support levels remaining unchanged at 102500, 101400, and 100800.
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