Bitcoin Technical Analysis: 8 MAY 2025
Bitcoin is now approaching key resistance levels. Source: TradingView
General View
Bitcoin has sharply rebounded from the lower edge of the broadening wedge, with price now approaching the upper boundary near the $100,000 mark. The highlighted area, “challenging zone“, is likely to act as a barrier for the bulls. The recent rally reflects short-term bullish strength, but it needs more legs to pass the pivotal range watch level.
On The Upside
If bulls can maintain pressure and push decisively above the $99,600–$100,400 zone, a breakout from the wedge could be confirmed. In that case, Bitcoin could open the door toward testing the next major psychological level around $102,000. However, for the session, there is also an intra-day resistance at $99,250.
On The Downside
Failure to break past the upper wedge boundary could result in a sharp pullback as profit-taking pressure remerges. The first area to watch would be around $97,500, followed by the midline near $95,800. Both these levels are expected to hold as strong supports now.
$100K is a major hurdle for the bulls. Source: TradingView
