Technical analysis by ScottMelker about Symbol BTC on 5/9/2025

Bitcoin has blasted through the psychological $100,000 level and is now consolidating just above it with impressive strength. Price is currently trading around $103,200, holding firmly above previous resistance at $99,517 – a zone that had capped price action for months.This breakout is technically clean: the move came on increased volume, with price trending well above both the 50-day and 200-day moving averages. RSI remains elevated but not extreme, reflecting strong momentum without immediate signs of exhaustion. That said, it's entering overbought territory – something worth watching, though not inherently bearish in a trending market.The next key resistance levels are $106,099 and $109,358 – both historical rejection zones. Bulls will likely be eyeing those levels for profit-taking or potential cooling. On the downside, a retest of the $99,500–$100,000 area as support would be textbook bullish continuation if buyers step in.Overall, this is a breakout worth respecting. The $100K psychological milestone has now been claimed – and that could change the market’s sentiment dramatically moving forward.