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Source: TradingView & BingX
The 1-day chart for Bitcoin (BTC) against USDT, as of May 29, 2025, shows the real-time price at $108,460. The candlestick pattern over the past month indicates a sustained upward trend, with the price rising steadily from early May. The chart includes two moving averages: the 9-period MA at $108,846.7 and the 5-period SMA also at $108,846.7, both trending upward, reflecting a positive short-term trend. However, the latest candlestick shows a slight decline, with the price dipping below these moving averages, suggesting a potential pause in the upward momentum.
At the current price of $108,460, Bitcoin is trading below the recent high of $108,499.0 seen earlier on May 29. The price has fallen beneath the 9-period MA and 5-period SMA at $108,846.7, which may now act as a resistance level in the near term. The small green candlestick at the end of the chart indicates a modest recovery attempt after a dip to $106,883.1, but the price remains under pressure. The next few hours could determine whether the price stabilizes or continues to decline.
Overall, Bitcoin’s price remains above the long-term trendline that has supported the uptrend since early May, suggesting the broader bullish structure is still intact. However, the recent drop below the short-term moving averages introduces a neutral tone to the market. A higher low around May 19 and May 25 supports the idea of buying interest at lower levels, but a failure to reclaim $108,846.7 might lead to further consolidation. Conversely, a breakout above the recent high of $108,841.3 could signal a continuation of the uptrend in the coming days.
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