๐ BTC Price Analysis โ 04 June 2025 | Bearish Pressure Continues? ๐
๐ Current Market Overview:
Bitcoin is currently trading below the Ichimoku Cloud, signaling ongoing bearish sentiment. The price is caught in a local correction phase after a recent drop. While it made an attempt to push above resistance, momentum faded quickly, hinting at a possible double top pattern forming โ visible as an "M" shape on the chart. โ ๏ธ
๐ฃ๏ธ Powellโs Speech โ Subtle Positives? ๐๏ธ
Markets responded mildly positively to Powellโs latest remarks. While no rate cuts were promised, his tone on global risk assessments and uncertainty models suggested a possible shift toward easing policy in H2 2025. This injects hope into the broader macro landscape, but the crypto market remains cautious. ๐ผ
๐ Technical Outlook:
Despite the slight optimism from Powell's comments, Iโm not seeing strong enough confirmation for a bullish breakout in BTC just yet.
Key signals from the chart:
๐ธ Ichimoku Cloud: Price remains below the cloud, maintaining a bearish stance.
๐ธ Resistance Zone: Strong resistance lies between $106,000 โ $107,000. Price is currently struggling here. ๐งฑ
๐ธ Support Levels: Eyes on the $100,000 psychological level. If it breaks, we may revisit $95,000. โ ๏ธ
๐ธ RSI: A slight uptick is visible, but still below 50, indicating weak bullish strength. ๐
๐ง My Strategy & Sentiment:
For now, Iโm maintaining a cautious, bearish stance ๐ป:
โ Waiting for a confirmed breakout above the cloud and resistance levels
โ Or a strong bounce from major support zones to validate a potential long setup
โณ Patience is key in such uncertain market conditions โ no FOMO. ๐งโโ๏ธ
