Bitcoin technical analysis
After a midweek corrective pullback, Bitcoin has resumed some consolidation above $68,400, indicating that buyers are still trying to gain control. With the release of US inflation data approaching, expectations are growing for strong moves that could push the price towards either a new high or a broader correction.
Market Overview
On the H1 timeframe, the price is trading within a limited range-bound ascending channel, with a clear focus around the 68,900 level. It is noted that the price is finding strong support at 68,400 and 67,600, while facing clear technical resistance at 69,300. A break above this level could trigger a new buying wave.
Technical Indicator Analysis
- MACD: Showing a moderate positive crossover, with bars remaining above the zero line, supporting the continuation of the upward trend.
- Stochastic Oscillator: Moving in the positive zone without oversaturation, leaving room for further upside.
- Moving averages: EMA 50 and EMA 100 are below the price and are currently acting as effective dynamic support at 68,400 and 67,950.
Bitcoin technical analysis : Possible scenarios
Bullish scenario:
- If the price succeeds in breaking 69,300 and holding above it, the next target will be 70,000, an important psychological and technical barrier. Breaking it will push the price towards the 70,850 and then 71,600 areas.
- A break of 70K will again attract investors.
Bearish Scenario:
- If the price fails to break 69,300 and declines below 68,400, selling pressure could push the price towards 67,600. If this strong support is broken, 66,750 will be the next target.
- A break of 66,750 restores the bearish scenario in the short term.
Trading strategies based on Buy/Sell levels
| BTCUSD | In case of buying | in case of selling |
| Entry point | 108743 | 108337 |
| Target Point 1 (TP1) | First resistance: 109024 | First support: 108024 |
| Target Point 2 (TP2) | Second resistance: 109200 | Second support: 107800 |
| Stop Loss (SL) | 108337 | 108743 |
Bitcoin is currently at a pivotal stage, trading in a range very close to the 69300-resistance level. A break below this level will confirm the resumption of the uptrend towards 70,000 and possibly higher. A decline below 68,400 will re-establish selling pressure. It is recommended to closely monitor US inflation data today to confirm the upcoming trend.
Impactful Economic News – Thursday, May 30, 2025:
- United States:
- Personal Consumption Expenditures (PCE) Index – 3:30 PM Mecca Time.
- This data represents an accurate measure of the underlying inflation rate and often influences Bitcoin’s movement as an inflation-hedging asset.
- Any positive or negative surprises will directly impact risk appetite in the crypto market.
