Technical analysis by David_financial_analyst about Symbol BTC on 5/19/2025

After Bitcoin’s recent breakout above $106,000, the price has come to a crossroads. BTC has hit a critical resistance zone around $107,000 in the short term. This area has historically been a turning point for past rallies. Bitcoin’s relative strength index (RSI) shows that its momentum has weakened somewhat, having climbed into the overbought zone since May 15. A move into this zone usually signals a short-term pullback. This means that BTC could be about to see a short-term pullback, especially when the RSI signals overbought. This degree of profit-taking usually increases selling pressure and triggers a significant drop in the price of the asset.Major Support and Resistance LevelsBTC is considering support between $95,850 and $98,730 in the short term. At least 1.19 million wallets have accumulated more than 1 million BTC at the $98,732 price level, making this price level a major demand area. If BTC falls below this support level, the asset could see a deeper pullback. However, if BTC maintains above the support level, the asset is likely to consolidate and accumulate momentum for the next leg up. After that, $116,900 will be the next major target. Therefore, the Bitcoin price range shows that $98,131 and $116,900 will be the key support and resistance levels for BTC in the coming weeks. BTCUSD BTCUSD BTCUSD BTCUSD