Highest price in 24 hours: 106,775
Lowest price in 24 hours: 104,822
24-hour trading volume: 122,699.371 BTC
Negative reversal pattern begins to form after a series of failed peaks
June 4, 2025 | 9:20 AM
Currently trading at 105,401 with a slight daily increase of +0.11%, within a weak sideways range after a consecutive downward wave from the recent peak of 111,959. Despite the price holding relatively above 105,000, the overall candle formation confirms a gradual decline in momentum with each new rebound.
• Analysis and Forecasts
The price is currently moving within a clear downward channel after recording two descending peaks at 111,959 then 106,775. This technical formation suggests a distribution pattern supported by repeated failures to build new peaks.
The area between 106,000 and 106,800 showed violent rejection reflecting clear selling pressure. Holding above 105,000 seems fragile in the absence of any strong bullish confirmation candle.
If the level of 104,800 is broken with a real close, a new downward wave may be activated targeting 103,000 and then 100,000 in the near term, making selling from the current levels a calculated opportunity with minimal risk.
Resistance:
106,775 (Rejected daily peak confirming weakness in the breakout)
108,195 (Higher technical level not regained)
Support:
104,822 (Critical support and key for the upcoming drop)
103,032 (Previous rebound bottom and indicator for trend break)
The scenario remains bearish for now. A direction below 105,000 opens the door for a wider drop and may represent an opportunity for short sellers to enter.
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