Hello Binance Square family! š
As we step into June 2025, Bitcoin (BTC) is trading around $104,710 USD, showing a modest increase of 0.84% over the past 24 hours. After reaching an all-time high of $111,970 on May 22, BTC has experienced a slight pullback, prompting traders to assess whether this is a temporary pause or a precursor to a broader correction.
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š Current Market Snapshot
Price: $104,710 USD
24-Hour Change: +0.84%
Market Cap: Approximately $2.07 trillion USD
24-Hour Trading Volume: Approximately $36.5 billion USD
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š Technical Analysis
Bitcoin's recent price action suggests a potential short-term upward move toward the $105,000 resistance level. If this level is reached and broken, a continuation of the uptrend could follow.
Key Support and Resistance Levels:
Support: Approximately $100,000
Resistance: Around $105,000
Technical Indicators:
RSI: Currently within the 30-70 neutral zone, indicating a neutral trend.
MACD: Bearish divergence observed on the histogram, suggesting potential for a price reversal.
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šÆ Trading Strategy
Considering the current technical setup, traders might look for entry points near the $104,000 level, anticipating a potential breakout above the $105,000 resistance.
Suggested Trade Parameters:
Entry Point: Buy near $104,000
Stop Loss: Set at $102,000 to manage risk
Take Profit: Target between $108,000 and $110,000
This strategy aims to capitalize on the expected continuation of the bullish trend, with a favorable risk-reward ratio.
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ā ļø Disclaimer
This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile, and it's crucial to conduct your own research (DYOR) and consult with financial advisors before making investment decisions.
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Stay informed and happy trading! š
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