$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.
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🔍 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.
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🧠 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.”
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📊 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
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🛠️ 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
