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$BTC 🚀 Bitcoin Breaks Back Above $105K — Bounce or Bull Trap? 📉📈 💡 Is it time to buy the dip, or brace for another leg down? After a volatile week, Bitcoin ($BTC) has come roaring back, reclaiming the $105,000 level on June 6 — a move that suggests strong buying interest at lower levels. But not everyone’s convinced we’re out of the woods yet. --- 🔍 Key Levels to Watch Current Price: $105,082 Immediate Resistance: $109,588 Support Zone: $100,000 Bearish Target (per some analysts): <$100K As $BTC approaches overhead resistance, some traders expect selling pressure to return — especially around the $109K zone. A rejection here could validate short-term bearish predictions from analysts who are calling for a dip below the psychological $100K mark. 👉 Some experts are now forecasting sub-$100K targets, citing weakening RSI and waning momentum. --- 🧠 But Here’s the Bullish Twist: The “Hash Ribbons” Signal Flashed a BUY For those unfamiliar, the Hash Ribbons indicator is a well-respected on-chain metric that tracks miner capitulation and recovery phases — often signaling macro bottoms. And guess what? It just flashed a buy signal for the third time in 2025. 🗣️ CryptoQuant contributor @Darkfost weighed in: > “The Hash Ribbons are saying it's smart to be a buyer at these levels. Historically, these signals have preceded major rallies.” --- 📊 What This Means for Traders 🚀 Bullish Case: Hash Ribbons = accumulation zone $BTC defends $100K and breaks above $109K Opens the door for retest of $114K–$116K range ⚠️ Bearish Case: Weak volume on the bounce Rejection near $109K Drop toward $97K–$95K support if $100K fails --- 🛠️ Pro Tips for Trading the Chop Zoom out: Macro trends > hourly candles Don’t FOMO into resistance — wait for confirmation Set alerts at critical levels: $100K, $109K, and $114K Use limit orders to catch dips without chasing #Write2Earn
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