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Bitcoin (BTC) Price Analysis for May 25

Thu, 05/25/2023 - 16:06
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Denys Serhiichuk
How long is correction of Bitcoin (BTC) going to last?
Bitcoin (BTC) Price Analysis for May 25
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Neither bulls nor bears are dominating today, according to the CoinMarketCap ranking.

Top 10 coins by CoinMarketCap

Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has increased by 0.34% over the last 24 hours.

Image by TradingView

Image by TradingView

On the hourly chart, the price of Bitcoin (BTC) has set the local support at $25,878. At the moment, the rate is trading near the resistance at $26,471. If the closure happens near it, the rise may continue to the $26,600-$26,800 zone.

BTC/USD chart by TradingView

Image by TradingView

On the bigger chart, the rate of BTC has almost tested the support level at $25,800. At the moment, one should pay attention to the important mark of $26,000.

Related
Ethereum (ETH) Price Analysis for May 24

If sellers keep their pressure on, the energy might be enough for a sharp drop to the $25,000 area.

BTC/USD chart by TradingView

Image by TradingView

From the midterm point of view, the price of BTC has once again failed to fix above the $27,000 zone. If the bar closure occurs below the $26,374 mark, the fall may continue to the $24,000-$25,000 area soon.

Bitcoin is trading at $26,378 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.