Bitcoin Technical Analysis Report 8 May, 2025 - FinanceFeeds

Crypto Technical Analysis Report

Bitcoin surged past $97,000 on May 6 in a sharp short squeeze, triggered by news that U.S. Treasury Secretary Scott Bessent confirmed trade negotiations with China would begin on May 10. Adding to the bullish momentum, Bitcoin’s realized capitalization — which measures the aggregate value of all BTC based on the last time each coin moved — hit an all-time high of $890 billion on May 7. This milestone marked the third straight week of record-sett…

Bitcoin Technical Analysis Report 8 May, 2025 - FinanceFeeds

Bitcoin cryptocurrency can be expected to rise toward the next round resistance level 100000.00 (which stopped the previous wave (ii) in February) – followed by 102500.00 (monthly high from February).   Bitcoin broke resistance area Likely to rise to resistance level 100000.00 Bitcoin cryptocurrency recently broke the resistance area between the key resistance level 97500.00 (which stopped the previous impulse wave i at the start of May, as can…