BTC Daily Analysis (As of June 8, 2025)

Current Bitcoin (BTC) daily chart shows a consolidation pattern, with prices fluctuating around the $104,000-$106,000 range. The technical indicators show a clear divergence between bulls and bears:

1. Short-term support and resistance:

- Key support levels at $103,000 (EMA30 moving average) and $102,500 (20-day moving average); if broken, it may further dip to the psychological level of $100,000.

- Resistance is concentrated in the $106,500-$107,500 area, having previously encountered multiple rejections here, requiring a substantial breakout to open up upward space.

2. Indicator signals:

- RSI (14-day) has dropped to around 35, nearing the oversold territory, indicating a potential technical rebound demand.

- MACD shows a death cross on the daily level, but the histogram is narrowing, suggesting weakening short-term momentum; the middle band of the Bollinger Bands is at $105,400, with the price operating below this middle band, indicating a bearish advantage.

3. On-chain and market sentiment:

- Whale holdings are shifting towards increasing (Glassnode data), institutional ETF inflows are slowing but the long-term trend remains unchanged.

- Google search trends are sluggish, retail participation is insufficient, and market sentiment is cautious.

Operational advice: In the short term, focus on buying opportunities in the $103,000-$104,000 range, with a stop loss set below $102,500; if it breaks above $106,500, consider trying to go long, targeting $108,000-$110,000. Be cautious of the impact of non-farm payroll data (released on June 7) on Fed policy expectations, which may increase volatility.$BTC