Technical Analysis of Bitcoin (BTC) – Thursday, June 5, 2025
Bitcoin continues to trade within a narrow sideways range, reflecting a state of anticipation in the markets after its decline from the all-time high recorded last May at $111,970.
🔹 Current price: approximately $105,164, with monthly gains of nearly 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 towards $101,000.
Nearby resistance: $106,550 – breaking through this may open the door to test $107,500, a crucial level that, if surpassed, could lead to a resumption of the upward trend.
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📈 Technical Outlook:
Technical indicators: suggest a decline in short-term bullish momentum, with potential sell signals appearing.
Chart pattern: the formation of a "cup and handle" pattern on the chart, which could indicate a potential rise if a breakout above $111,900 is confirmed.
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🧠 Monitoring Recommendations:
Staying above $105,000 is considered a positive signal, while breaking below $104,000 could warn of a deeper correction.
The critical level $107,500 – surpassing it could restore bullish momentum and push the price towards new all-time highs.
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🚨 Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Please do your own research and consult a financial advisor before making any investment decisions.