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Bitcoin (BTC) Price Analysis for May 25

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Thu, 25/05/2023 - 16:06
Bitcoin (BTC) Price Analysis for May 25
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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

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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.

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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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