025-06-05|22:04
Highest price: 105,878.3
Lowest price: 100,305.1
Trading volume: 24.52B USDT
Bitcoin is currently trading at a level of 101,150 with a decrease of -3.52% over the day, following a strong break of an important support level and rapid declines within an intense selling wave accompanied by a noticeable increase in trading volume. The price behavior reflects a sudden shift in momentum after failing to overcome the previous resistance around 105,800, leading to a acceleration in the decline and reaching today's low at 100,305.1.
• Analysis and forecasts
The chart shows a bearish breakout from a symmetrical triangle pattern extending since May 25, with confirmation of breaking below the moving averages and a clear decline in the momentum indicator. The price lost its dynamic support at 103,600 to enter a sharp selling wave. If selling pressures continue and the previous low is broken, the decline may extend towards the range of 99,000 – 97,300 as a potential technical target. It is worth noting that the convergence of significant selling liquidity in the order book at 101,150 supports the scenario of a retest, opening up an opportunity for short-term rebound monitoring with every weak volume 15-minute candle coinciding with a balance in the buyer ratio.
• The current scenario allows for cautious monitoring of a smart entry possibility if it remains above 100,900 with a strong reversal candle, noting that breaking below 100,305 may open the door towards 99,300 as a second stage.
• The overall technical trend is bearish in the short term with accelerating negative momentum, warranting caution against any unsupported rebound in volume or clear breakout of the first resistance. However, retesting the area between 101,200 and 101,800 may provide an opportunity for calculated technical trading.
Resistances:
105,111.3 (previous technical peak before the collapse)
103,641.5 (previous accumulation area and current resistance after the break)
Supports:
100,305.1 (today's low and a critical immediate support level)
99,522.0 (the next potential target if the decline continues)
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