Bitcoin has been consolidating within a tight range recently, but the sharp move above $105,500 on May 18 has reignited hopes of an upside breakout. Bulls are now attempting to push past the key resistance level at $105,820. Supporting this momentum, both moving averages are trending upward, and the Relative Strength Index (RSI) remains in overbought territory — clear signals that buyers currently have the upper hand. Adding to the bullish sentiment, several U.S. and global companies have announced plans over the past three weeks to acquire Bitcoin and allocate it to their corporate treasuries, reinforcing institutional confidence in the asset.
At the time of writing, BTC was trading at $104,097.
BTC, after taking support around the key level of $73,500, started moving up. On the weekly time frame, the asset has been trading in green for the past five weeks, forming a ‘Higher High Higher Low’ pattern. The price has surged by almost 43.75% from the recent lows and made a weekly high of $107,108. The bulls, however, failed to break the all-time high of $109,588. BTC has strong support at $100,000 and $90,000, whereas $110,000 will act as strong resistance.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2. |
| $90,000 | $100,000 | BTC | $110,000 | $125,000 |
Unravel everything that you need for your crypto journey via ZebPay blogs. Get started today and join 6 million+ registered users on ZebPay!
