Bitcoin Technical Analysis Report – 12th May 2025

By: zebpay|2025/05/12 13:45:05

Bitcoin surged decisively past the critical $100,000 mark this week, reigniting bullish sentiment across the market. The move not only reestablished a major psychological milestone but also reinforced investor confidence, as BTC held onto its 10% weekly gains heading into the weekend. Fueling this breakout was continued strong institutional interest, particularly in the BlackRock iShares Bitcoin Trust (IBIT). According to data from Farside Investors, IBIT recorded 19 consecutive days of positive inflows, pulling in $1.03 billion over the past trading week alone. This consistent capital injection signals growing conviction among large investors and adds further credibility to Bitcoin’s rally. At the time of writing, BTC was trading at $103,916.BTC, on a weekly time frame, made a ‘Bullish Engulfing’ candle around the key support of $73,500 and started moving up by forming a ‘Higher High and Higher Low’ pattern. The asset broke the downsloping trendline and the psychological level of $100,000. The price surged almost 39.75%, from $74,508 to $105,085. BTC has strong resistance at $110,000, whereas $100,000 and $90,000 will act as strong support levels for the asset.Key Levels:Support 2Support 1AssetResistance 1Resistance 2.$90,000$100,000BTC$110,000$125,000Unravel everything that you need for your crypto journey via ZebPay blogs. Get started today and join 6 million+ registered users on ZebPay!TRade nowThe post Bitcoin Technical Analysis Report – 12th May 2025 appeared first on ZebPay.

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