Bitcoin (BTC) Price Prediction for May 26

Bullish Momentum Surges as Bitcoin Approaches Key Resistance Levels

The crypto markets are off to a strong start this week, with Bitcoin (BTC) leading the charge. According to CoinStats, Bitcoin's price has risen by 2.11% since yesterday, signaling a return of bullish sentiment.

On the hourly chart, BTC has encountered potential local resistance near $110,266. However, with most of the Average True Range (ATR) already covered, the likelihood of sharp price movements in the near term appears relatively low.

From a broader perspective, Bitcoin is currently trading in the middle of a channel, bounded by support at $106,827 and resistance at $112,000. Given this positioning away from key levels, significant volatility in the coming days seems unlikely.

The weekly chart shows Bitcoin breaking above the nearest resistance at $109,356. Traders are closely watching the weekly candle close - a strong finish above this level without long wicks could set the stage for new all-time highs.

As of now, Bitcoin is trading at $109,670.