Technical analysis by FOREXcom about Symbol BTC on 5/21/2025

Over the past three trading sessions, BTC has gained more than 5%, marking a new all-time high above the $109,000 zone. The current bullish bias can largely be explained by optimism surrounding cryptocurrency regulation, as the U.S. Senate debates new pro-crypto legislation. However, the strong upward momentum has started to ease gradually, and the price is beginning to consolidate near its record levels.Steep Bullish TrendSince April 9, BTC has maintained a strong upward trend, pushing the price back toward historical highs. So far, there has been no significant selling correction that could challenge the current bullish structure, making it the most important technical formation to monitor in the short term. However, it is worth noting that the trend has become increasingly steep, which could create room for short-term pullbacks.RSIThe RSI line remains above the overbought zone at the 70 level, indicating that the recent buying impulse has been strong enough to unbalance market forces. This increases the likelihood of a short-term corrective move as the market seeks to reestablish equilibrium.MACDDespite the continued rise in price, the MACD histogram is hovering close to the zero line, which fails to confirm strong bullish momentum. This may signal that a period of neutral consolidation could continue around the current all-time highs.Key Levels to Watch:$106,000 per BTC: Current price barrier aligned with the historical high zone. This level could act as a resistance area, potentially triggering short-term selling corrections.$115,000 per BTC: A psychological target and the next tentative resistance. Bullish moves approaching this level would reinforce the current upward trend.$100,000 per BTC: A key support level, located at a previous consolidation area and a strong psychological threshold. A break below this level could put the current bullish structure at risk.Written by Julian Pineda, CFA – Market Analyst