#BTC
As of June 7, 2025, Bitcoin (BTC) is trading at approximately $104,449, reflecting a 3.5% increase over the past 24 hours. The price has fluctuated between an intraday low of $100,923 and a high of $105,220.
๐ Technical Analysis: BTC/USD
๐น Support & Resistance Levels
Immediate Support: Around $97,663, corresponding to the 0.382 Fibonacci retracement level.
Key Resistance: Approximately $107,205, with a significant barrier at $111,505.
Breakout Target: If BTC surpasses $111,505, it could aim for $117,865.
๐น Indicators & Patterns
Bollinger Bands: BTC recently rebounded after touching the lower band at $102,007, indicating a potential short-term recovery.
20-EMA: The price is attempting to reclaim the 20-day Exponential Moving Average around $104,180, suggesting a possible shift in momentum.
50-Day SMA: The 50-day Simple Moving Average has reached a record high, signaling a bullish trend, though the narrowing spread between the price and the SMA may indicate an upcoming correction.
RHODL Ratio: The Realized HODL Ratio has decreased, implying that long-term holders dominate the market, which often aligns with accumulation phases.
๐น Market Sentiment
Fear & Greed Index: Currently at 57, indicating a "Greed" sentiment in the market.
Market Outlook: Analysts predict a potential rise of 11.68%, with BTC possibly reaching $118,078.77 in the near term.
๐ง Summary
Bitcoin is exhibiting signs of recovery after recent volatility, with key indicators pointing towards a bullish trend. However, traders should remain cautious of potential resistance levels and the possibility of a price correction. Monitoring support and resistance zones, along with market sentiment indicators, will be crucial for navigating the current market conditions.
