Bitcoin (BTC/USD) Maintains Bullish Momentum Toward Higher Resistance Levels Ahead
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Bitcoin Price Prediction – May 15
BTC/USD market maintains bullish momentum toward higher resistance levels ahead. The next resistance level to get invalidated is likely the $108,390 resistance.
The technical indicators suggest a continuation of bullish strength. The 9-day Simple Moving Average (SMA), currently around $102,170, is sloping upward and remains below the current price action, signaling bullish momentum. Additionally, the Relative Strength Index (RSI) stands at 69.1, approaching overbought territory. While this suggests strong buying interest, it also indicates potential for short-term consolidation or pullback if overbought conditions persist.
BTC/USD Market Key Levels:
Resistance Levels: $108,390, $115,000, $125,000
Support Levels: $95,980, $85,010, $74,420
BTC/USD – Daily Chart
The BTCUSD daily chart shows that the order flow of the market is bullish.
The price action on the daily chart confirms a bullish structure, highlighted by a clear break of structure (CHoCH) above the $85,010 resistance area. This came after the price formed a swing low around $74,420, followed by a strong upward move.
Recent candles show a brief pause, hinting at either consolidation or a minor retracement. The price is currently holding above the breakout level and previous resistance, which has now turned support near $95,980.
What is the likely projection of BTCUSD?
The market projection remains bullish, with the next major resistance target lying around $108,390. Should price experience a retracement, it is likely to find support again near the $95,980 zone before attempting another upward move. If bullish momentum continues, the ultimate target for this leg could be around $115,000, and possibly $125,000 in the longer term.
BTC/USD – Four-Hour Chart
BTCUSD remains bullish on the four-hour chart, trading above the 9-period SMA currently at $103,520, which is acting as dynamic support. Price recently broke out of a rising wedge and is now consolidating just below the $108,390 zone.
A Fair Value Gap (FVG) exists between $98,000 and $99,800, which could act as a demand zone if a retracement occurs. If bullish momentum holds, price is likely to push toward the $108,390 resistance level.
Bitcoin (BTC) Current Statistics
The current price: $103,520
Market Capitalization: $2,050,000,000,000
Trading Volume: $43,990,000,000
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