Bitcoin price has paused its upward momentum following three consecutive daily gains, closing June 3 in red after briefly tapping a five-day high near $106,900.
This level also coincides with a former support zone from the previous week, now acting as resistance. The pullback from that high led to a close near $105,400, right above the 20-day exponential moving average, suggesting buyers are still active on dips.
Highlights
Bitcoin stalls near $106,900 after three-day rally signals hesitation at key resistancePrice consolidates above 20-day EMA while higher-low structure holds firmFlat funding and recent long liquidations hint at reset before possible breakout
Since the open of today’s session near $105,400, Bitcoin price has moved in a tight range of less than 1% volatility through the Asian and into the European hours. This limited price activity reflects hesitation at the 0.618 Fibonacci retracement level situated at $105,900, a historically relevant area often tied to continuation or rejection zones. Until this level is cleared, short-term upside may stay muted.
Despite the slowdown, structure on the higher timeframes remains constructive. Price has printed consistent higher highs and higher lows since the last day of May, reinforcing the trend bias. The key now is whether bulls can reclaim the 0.618 Fibonacci level at $105,900. Doing so would likely shift attention toward buy-side liquidity above the previous day's high of $106,880.
$BTC Meanwhile, sell-side liquidity sits just below the previous day’s low near $104,940, creating a nearby downside draw if bulls fail to build momentum. However, the ongoing higher-low structure suggests that this level may attract defensive interest from dip buyers.
Bitcoin momentum, funding reset and long liquidations hint at next leg higher
Bitcoin
$BTC momentum indicators such as the 4-hour RSI have cooled off. While the RSI had previously shown strength, yesterday’s pullback dragged it back toward neutral levels. That suggests bullish strength has paused, but not invalidated. A fresh RSI uptick from here would reinforce the case for an upward extension.
On the Bitcoin derivatives side, funding rates are flat while large-scale long liquidations on Binance points to a market reset that often precedes a renewed attempt higher. Overall, Bitcoin appears to be in a holding pattern, consolidating above its 20-day EMA, and setting the stage for another move as traders weigh liquidity targets and key technical levels.
$TRUMP Bitcoin bounced after a Dragonfly Doji formed near the 20-day EMA support. Price stalled below the 0.618% Fibonacci level at $105,900 after four days of tight consolidation.
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