Bitcoin Holds Steady Near $103,546, Key Levels Await Closure

Coin WorldSaturday, May 10, 2025 11:02 am ET
1min read

Bitcoin (BTC) has shown minimal price movement since yesterday, with most coins in the green zone at the beginning of the weekend. The hourly chart indicates that BTC's rate is distant from key levels, and with low volume, sharp price movements are unlikely by tomorrow.

On a larger time frame, the focus is on the bar closure in relation to the resistance at $104,159. If the closure is far from this mark, bears may take control, potentially leading to a drop to the $102,000 level. Conversely, from a midterm perspective, if the candle closes near its peak with no long wick, the growth is likely to continue towards the $106,000-$108,000 range. At the time of writing, Bitcoin is trading at $103,546.

Analysts suggest that the current price stability and low volume indicate a period of consolidation for Bitcoin. The resistance at $104,159 is a critical level to watch, as a failure to close near this mark could signal a bearish trend. Conversely, a strong close near the peak could indicate continued bullish momentum.

The midterm outlook remains positive, with potential for growth towards the $106,000-$108,000 range if the current trend continues. However, traders should remain cautious and monitor key levels closely, as sudden price movements are always a possibility in the volatile cryptocurrency market.

Comments



Add a public comment...
No comments

No comments yet

Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.