Bitcoin at its Peak!

[Forum Admin]

Bitcoin at its Peak!

 
As highlighted in the previous Bitcoin analysis dated May 7, 2025, the price exhibited strong upward potential. Ultimately, buyers established a bullish cycle, reaching a new all-time high of $111,850. No explicit or convincing indication of a price decline on longer timeframes, such as the monthly and weekly charts. Bitcoin has successfully broken above its previous peak of $110,000 and maintained that level.

This bullish momentum has been supported by the weakening of the US dollar and increased demand from market participants for alternative assets like Bitcoin. Consequently, a strong uptrend has been established for this leading digital currency. If this bullish structure remains intact, buyers' next significant resistance target could be the psychologically important level of $114,000.

 

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The dominant trend remains upward on shorter time frames such as the daily and 4-hour charts. However, due to the price being overbought, buying positions should be approached with increased caution.

In a bearish scenario, given the overbought status and the potential for a false breakout, if the $111,850 peak or a nearby high holds, a corrective pullback could occur toward the support zone between $108,300 and $110,000.