BTC/USD spot prices are at $108,724 and continue to move within the framework of developing a correction and bearish channel. Moving averages indicate the presence of a short-term upward trend for Bitcoin. Prices broke through the area between signal lines upwards, which indicates pressure from buyers of “Digital Gold” and the potential continuation of development of the bearish impulse in the asset’s value already from current levels. Within the forecast of cryptocurrency course on June 29th, 2025, it is expected that an attempt to develop a bearish correction of the digital asset’s value will occur, testing the support level near the area of $107,675. From there, another upward bounce and an attempt to continue Bitcoin’s price rise with a target above the area of $115,865 should be anticipated.
Bitcoin Forecast and BTC/USD Analysis for May 29, 2025
Additional indication of the growth in BTC/USD quotes would be testing the support line on the Relative Strength Index (RSI) indicator. The second indication for this option is a rebound from the lower boundary of the “Triangle” model. A signal against the variant of the coin price and Bitcoin’s value increase will be a drop in asset value and breaking through the area of 103,565. This will indicate a break of the support area and the continuation of the Bitcoin price decline with a potential target at the level of 96,505. Confirmation of an active asset price will come from breaking through the resistance area with the price remaining above the mark of 113,005, indicating a breakthrough of the upper boundary of the “Triangle” model and the beginning of implementing the pattern with targets above.
Bitcoin Forecast and BTC/USD Analysis for May 29, 2025 anticipates a test of the support level near the area of 107,675. Further on, there is an expectation of the cryptocurrency’s growth with a potential target at the level of 115,865. An additional signal in favor of Bitcoin’s price rise would be testing the support line on the Relative Strength Index indicator. Cancellation of the bullish scenario for the digital currency will occur if it breaks through the area of 103,565. This will indicate continued depreciation of the coin with a potential target below the level of 96,505.
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