Bitcoin's current price is holding strong around $106,178, having broken out above a descending channel - a promising sign. The focus now shifts to the 4H Ichimoku Cloud; a breakout above it could flip the short-term trend bullish and spark a rally towards new heights. Sellers are backing off, and resistance levels are easing, paving the way for a potential trend reversal early next week. Patience is crucial as the price action at the start of the week will likely dictate the momentum.
Key Levels to Watch:
Current Price: $106,178
Resistance Levels: $108,353 (ATH level)
Support Levels: $104,964
Market Sentiment:
Bullish Signs: Sellers easing off, resistance levels weakening
Technical Indicators: Neutral-Bullish sentiment with 64% bullishness
Potential Targets:
Short-Term: Rally towards ATH levels
Long-Term: $118,930.66 by June 9, 2025