Bitcoin Price Prediction for May 25: Potential Support and Breakouts

The price of Bitcoin (BTC) has dipped today, according to CoinStats, falling by 1.62% over the past day. Analysis on the hourly chart shows a potential support level at $106,765, with further downward movement expected if bulls fail to regain control. On the daily chart, traders should focus on the closure of the bar for resistance levels around $106,827. A breakout could see a sudden drop to the $105,000 range. Mid-term outlook suggests that Bitcoin’s price made a false breakout above the resistance level of $109,356. If the weekly bar closes significantly away from this mark, a correction towards the $100,000-$105,000 zone is anticipated.