After a prolonged pullback from its late May highs above $112,000, Bitcoin price today is hovering around $104,250 as of early June 1, marking a sharp retreat from peak levels. The price has lost the 20/50/100 EMA cluster on the 4-hour chart and is now consolidating below the key resistance zone of $105,000–$106,000, a range that capped multiple bounces this week. The trendline support drawn from the early May breakout has also been breached, increasing caution among bulls.
What’s Happening With Bitcoin’s Price?
On the daily chart, Bitcoin price action reflects a weakening structure after facing repeated rejection near the 0.0 Fibonacci extension zone of $112,000. The recent retracement has pushed BTC back toward the 0.236 Fib level at $103,145, which is now being tested as near-term support. A breakdown below this level could expose the price to further downside toward the $100,000 psychological level, followed by the $97,600 (Fib 0.382) support zone.
Meanwhile, the 4-hour chart shows Bitcoin price volatility tightening below a red supply zone near $105,000. Bollinger Band…
The post Bitcoin (BTC) Price Prediction for 2nd June: Can BTC Reclaim $105K Amid Trend Weakness? appeared first on Coin Edition.
