📊 BTC/USDT Technical Analysis – May 29, 2025



Current Price: $108,031
24h Change: -0.95%
24h High / Low: $109,068 / $107,083

Market Structure:

BTC is currently trading between $107,000 and $110,000, suggesting consolidation after reaching its recent all-time high of $111,924 last week.

A bullish engulfing candlestick pattern on the weekly timeframe indicates strong upward momentum, potentially leading to another retest of the recent high.

Technical Indicators:

Moving Averages (MA): The 50-day MA has crossed above the 200-day MA, forming a golden cross, which is a strong bullish signal.

Relative Strength Index (RSI): Currently in the overbought zone, indicating a potential short-term correction.

MACD: Shows strong upward momentum, supporting the current bullish trend.

Support & Resistance Levels:

Immediate Support: $107,000

Key Resistance: $110,000

Outlook: The market is showing strong bullish behavior with BTC maintaining high levels. However, traders should be cautious of a possible short-term pullback due to overbought indicators. Watching the $107,000 support and $110,000 resistance will be essential for short-term strategies.

#DragonBoatWishes
BTC1,03%
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JamesNguyenvip
· 06-01 16:16
1000x Vibes 🤑
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JamesNguyenvip
· 06-01 01:48
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