As of June 4, 2025, Bitcoin (BTC) is trading at approximately $105,535, reflecting a modest intraday gain of 0.22%.

๐Ÿ” Technical Overview

Resistance Levels: BTC faces significant resistance between $106,000 and $106,500, with further barriers up to $107,000.

Support Levels: Immediate support is around $104,200, with a stronger base near $103,145, aligning with the 0.236 Fibonacci retracement level.

Indicators:

MACD (30m): Bearish crossover, indicating potential downward momentum.

RSI (30m): Neutral at 51.71, suggesting neither overbought nor oversold conditions.

Stochastic RSI (30m): Oversold with signs of a slight recovery.

Bollinger Bands (30m): Tight range, indicating price compression and potential for a breakout.

๐Ÿ“Š Market Sentiment

Bitcoin is currently consolidating below key resistance levels, with mixed signals from technical indicators. The market is at a pivotal point, and a breakout above $106,500 could signal a bullish trend, while a drop below $104,200 may indicate further downside.

๐Ÿ“ˆ Price Forecasts

Short-Term: Analysts suggest that Bitcoin may continue to consolidate between $97,000 and $112,000. A breakout above $112,000 could trigger upward momentum, while a fall below $100,000 might lead to deeper corrections.

Mid-Term: If Bitcoin maintains its position above $108,000, it could climb toward $120,000, especially if whale accumulation continues.

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๐Ÿงญ Strategic Considerations

Given the current market dynamics, traders should monitor key support and resistance levels closely. A confirmed breakout above $106,500 may present buying opportunities, while a decline below $104,200 could suggest caution. Staying informed on macroeconomic factors and institutional activities can provide additional insights into market direction.$BTC

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