Technical analysis by Cryptorphic about Symbol BTC: Buy recommendation (5/21/2025)

Bitcoin Daily Update – Bulls Take the LeadBitcoin just recorded its highest daily close in history at $106,849.99 (Binance), surpassing the previous record of $106,143.82 set on January 21st. While the difference is minor in percentage terms, it's still a meaningful win for the bulls.The next key level to watch is $113k to $117k, based on the Fibonacci extension target.For confirmation, we need another solid daily candle close above the current range. The $106K resistance has already been broken, and BTC is holding above it, indicating strong bullish momentum.To avoid getting trapped in a fakeout, consider adding the 14 EMA to your chart. As long as BTC holds above this EMA, the uptrend is likely to continue.Once BTC's show is over, Altcoins will likely follow suit.INVALIDATION OF THIS CHART: A close below $102k in confluence with 14EMA in Daily.I hope this update gives you actionable insight. If it did, feel free to follow and like. Let me know your thoughts or questions in the comments, I read every one.Thank you#PEACE