#Bitcoin Teeters at $106K While Momentum Indicators Flash Red

Bitcoin is approaching a critical technical juncture on the daily chart. Despite a brief recovery, $BTC continues to struggle below the $106K resistance zone, with momentum indicators pointing to indecision and exhaustion.

The MACD histogram has deepened in negative territory over several sessions, suggesting a weakening bullish trend and rising risk of reversal. At the same time, the RSI has hovered in neutral territory, reinforcing the narrative of a market in balance—neither overbought nor oversold.

Price is also trading below the 9-day EMA, and while it remains close to the 20-day EMA, the flattening slope suggests consolidation rather than upward continuation.

Traders should be watching the $106,133 level for a potential breakout confirmation. A close above could lead to a test of the $111,600 range. On the flip side, a loss of the $96K–$95.7K support band could trigger a deeper retracement.

As always, price structure, momentum, and confirmation from volume remain key to navigating the next #BTC move.

Read the full analysis: www.ecoinimist.com/2025/06/02/bitcoin-teeters-at-106-k

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