๐ Bitcoin (BTC/USDT) Technical Analysis โ 4H Chart
๐๏ธ Date: June 8, 2025
๐ Timeframe: 4-Hour (4H)
๐ฐ Current Price: ~$105,500
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๐น Market Overview
Bitcoin has recently bounced from a strong demand zone near $104,084 and is now testing a key descending trendline resistance. Price action is tightening, suggesting a possible breakout or rejection soon.
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๐ Key Technical Highlights
๐ Trendline Resistance:
A well-respected descending trendline is being tested.
Last touched highs: $111,959 โ $106,924 โ current $105,500
Price needs a clean breakout to shift structure bullish.
๐ฉ Support Zones:
$104,084 โ Immediate support (recent bounce area)
$101,244 โ Major demand zone (critical for bullish sentiment)
$99,050 โ Long-term structure support
๐ฅ Resistance Zones:
$105,500 โ Current resistance (Trendline test)
$106,924 โ Minor resistance above trendline
$109,764 & $111,959 โ Key swing highs
๐ Previous Price Action:
BTC was in a clear downtrend since the peak at $111,959.
Recent structure shows a potential reversal attempt if resistance breaks.