Technical Analysis of Bitcoin (BTC) – Thursday, June 5, 2025
Bitcoin # continues to trade within a narrow range, reflecting a state of caution in the markets after its decline from the all-time high reached last May at $111,970.
🔹 Current price: approximately $105,164, with monthly gains of about 11.5%, indicating a strong market structure despite recent volatility.
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🔍 Support and Resistance Levels:
Key Support: $104,000 – Breaking this level could push the price down towards $101,000.
Nearby Resistance: $106,550 – Breaking through it could open the way to test $107,500, which is a critical level that, if surpassed, may lead to a resumption of the upward trend.
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📈 Technical Outlook:
Technical Indicators: Indicate a decline in upward momentum in the short term, with potential sell signals emerging.
Chart Pattern: Formation of a "cup and handle" pattern on the chart, which could signal a potential rise if a breakout above $111,900 is confirmed.
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🧠 Recommendations to Monitor:
Staying above $105,000 is considered a positive signal, while breaking below $104,000 could warn of a deeper correction.
Critical level $107,500 – Surpassing it could restore the upward momentum and push the price towards new record levels.
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🚨 Note: This analysis is for informational purposes only and should not be considered investment advice. Please conduct your own research and consult a financial advisor before making any investment decisions.