According to Material Indicators (@MI_Algos), Bitcoin (BTC) is nearing a crucial support test at the 2025 Yearly Open price level. If this support fails to hold, traders should note a significant cluster of technical support exists around the primary moving averages (MAs), which could act as a buffer against further downside. This technical setup highlights important price levels for BTC traders to monitor for potential entries, exits, or risk management opportunities, especially as volatility increases near these long-term support zones. Source: Material Indicators Twitter, May 6, 2025.

According to Material Indicators, BTC price has faced rejection at the 2025 Yearly Open, presenting a potential scenario of either a bearish retrace or a bullish support test. The analysis highlights the importance of the 100-Day Moving Average as a critical support level, which is backed by significant bid liquidity as shown by FireCharts. Traders are advised to monitor this level closely for potential market movements.