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The key support and resistance levels ahead for BTC/USD are as follows:
Third key resistance level of BTC/USD: 120,000
Second key resistance level of BTC/USD: 114,000
First key resistance level of BTC/USD: 111,850
First key support level of BTC/USD: 110,000
Second key support level of BTC/USD: 108,300
Third key support level of BTC/USD: 105,000
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Bitcoin at its Peak!
As highlighted in the previous Bitcoin analysis dated May 7, 2025, the price exhibited strong upward potential. Ultimately, buyers succeeded in establishing a bullish cycle, reaching a new all-time high of $111,850. Currently, on longer timeframes such as the monthly and weekly charts, there is no clear or convincing indication of a price decline. Bitcoin has successfully broken above its previous peak of $110,000 and maintained that level.
This bullish momentum has been supported by the weakening of the US dollar and increased demand from market participants for alternative assets like Bitcoin. Consequently, a strong uptrend has been established for this leading digital currency. Provided this bullish structure remains intact, the next significant resistance target for buyers could be the psychologically important level of $114,000.
On shorter timeframes such as the daily and 4-hour charts, the dominant trend remains upward. However, due to the price currently being in an overbought condition, buying positions should be approached with increased caution.
In a bearish scenario, given the overbought status and the potential for a false breakout, if the $111,850 peak or a nearby high holds, a corrective pullback could occur toward the support zone between $108,300 and $110,000.
Best regards,
The CloseOption Team
www.closeoption.com
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