Technical analysis by TradeSelecter about Symbol BTC on 5/17/2025

Technical Analysis and Outlook:In the course of this week's trading session, Bitcoin demonstrated significant upward movement, surpassing both Mean Resistance at 105000 and Key Resistance at 106100. This progression also facilitated the surpassing completed Inner Coin Rally at 108,000, and the highly anticipated Outer Coin Rally marked at 110000. As a result, the cryptocurrency experienced a substantial decline, currently aiming toward Mean Support at 105600, with a potential further decline toward an additional Mean Support target at 101500.It is essential to acknowledge the possibility of an upward momentum emerging from the current level, which may enable a challenge to Key Resistance at 111700. Success in this regard could result in reaching the Inner Coin Rally at $114500 and, subsequently, the Outer Coin Rally at 122000.