In this technical analysis for May 23, 2025, Bitcoin has broken above the $110,000 psychological resistance, marking a significant bullish milestone. BTC/USD continues its rally from mid-April, fueled by strong momentum, robust volume, and favorable technical indicators.
Source: cTrader platform
The 50-day moving average (MA50) has firmly crossed above the 200-day moving average (MA200), forming a bullish golden cross that reinforces the uptrend in BTC/USD. Price action remains decisively above both MAs, indicating strong underlying demand and trend confirmation.
The Relative Strength Index (RSI) for BTC/USD is hovering near the 70 mark, which signals bullish momentum but also hints at potential overbought conditions. Traders should watch for signs of exhaustion if RSI crosses into extreme territory.
The MACD continues to indicate strong upward momentum in this BTCUSD technical analysis. The MACD line remains above the signal line with a widening histogram, supporting the case for further price gains in the near term.
| Level | Type | Comment |
|---|---|---|
| $114,000 | Resistance | New recent high – potential breakout zone |
| $105,000 | Support | Short-term consolidation area |
| $98,000 | Support | Aligns with MA50 – strong trend confirmation |
According to this BTCUSD technical analysis, the outlook remains bullish. As long as Bitcoin holds above $105,000 and MACD remains positive, further gains are possible. However, traders should remain cautious if RSI exceeds 70 without continued volume support, which may suggest a correction phase is near.
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※Disclaimer: This content is provided for informational purposes only and does not constitute investment advice. Please be sure to conduct your own research.
BTCUSD technical analysis for May 23, 2025: Bitcoin breaks $110K with bullish momentum confirmed by MACD, RSI, and moving averages
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