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The Rise Of STARTRADER

One Of The
World’s Fastest Growing Brokerage

Daily Technical Analysis: Bitcoin Breaks $105,000 and Nears its all-time High

Monday May 12 2025 08:34
Bitcoin Breaks $105,000 and Nears its all-time High

Bitcoin still shows a strong bullish trend on the daily chart. Price is moving above moving averages (5, 10, 30) with clear bullish crossover

RSI is in the overbought levels near 70, indicating strong bullish momentum but a potential for a pullback.

Key Levels to watch in the short term are:

Support: Around 92,000–95,000 ( which represents previous consolidation and the moving average MA30).

Resistance: 105,063 ( which represents the latest high).

The uptrend remains intact with higher highs and higher lows shown on the chart. Caution is needed if RSI crosses 70 as it may trigger profit-taking and sudden decline in prices. A short-term retracement to moving average (MA10) or (MA30) could offer a new buying opportunity.

Bitcoin (BTCUSD) Daily Chart

Resistance$105,226$106,453$107,271
Support$102,158$99,447$98.067

USDJPY shows continue its bullish trend, with price holding above moving averages (5, 10, 30): after the downward pullback. RSI is rebounding but not yet in overbought territory, and currently showing moderate bullish momentum.

Key levels to watch in today’s trading are:

Support: 145.60

Resistance: 146.28

The recent recovery on the pair looks healthy with a potential continuation above 146.28. As long as the price remains above the moving averages, the bullish bias is still valid. A break above 146.28 with 1H candle closure could trigger further upside movement toward 147.00.

USDJPY 1H Chart

Resistance146.29147.15147.67
Support145.72145.37145.16

Following major fluctuations last week , gold is showing a clear bearish trend.

Moving averages (5, 10, 30) indicate bearish trend with crossover. RSI is below 40, reflecting bearish momentum but not yet oversold.

Key levels to watch in today’s trading are:

Support: 3270

Resistance: 3310–3325

Gold remains in a short-term downtrend with momentum favoring more downsides. If price breaks 3270, the next support could be around 3230. Buyers need to reclaim 3310–3325 to shift momentum.

Gold (XAUUSD) 1H Chart

Resistance$3,292$3,313$3,348
Support$3,258$3,253$3,222
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