Bitcoin Price Watch – June 2, 2025
Title: Bulls and Bears Battle at $104K Support Zone
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📌 Key Metrics
Price: $104,391
Market Cap: $2.074 Trillion
24h Volume: $20.70 Billion
Day’s Range: $103,939 – $105,804
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🧭 Market Overview
Trend: Pullback from May highs (~$112K)
Current Zone: Tight consolidation between $104K – $105.8K
Sentiment: Neutral-to-bearish in short-term, bullish potential mid-term
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📉 Daily Chart Insights
Trend: Cooling off phase post $112K peak
Volume: Decreasing = Weakening sell pressure
Support Zone: $103,500 – $104,000
Resistance Zones: $108,000 → $110,000 → $112,000
Implication: Watch for bullish candles near $104K to confirm bounce
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⏱ Four-Hour Chart Breakdown
Current Pattern: Downtrend
Resistance: $105,500 – $106,000
Recent Signal: Bearish engulfing near resistance
Indicators:
RSI: 51 → Neutral
ADX: 22 → Weak trend strength
Trading Idea:
Short on rejection near resistance
Target: $103,500 support or lower
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📌 Strategy Summary
Bias Entry Zone Target Signal
Bullish $103,500 – $104,000 $108K, $110K, $112K Bullish reversal candle (daily)
Bearish $105,500 – $106,000 $103,500 or below Bearish engulfing, RSI/ADX fading
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📈 Technical Sentiment
Short-Term: Bearish-to-Neutral
Medium-Term: Cautious Bullish
Long-Term: Still intact as bullish unless $100K is broken with volume
