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 a decline from the all-time high recorded last May at $111,970.
🔹 Current price: Approximately $105,164, with monthly gains nearing 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 to $101,000.
Nearby resistance: $106,550 – Breaking through this could open the door to test $107,500, a critical level that, if surpassed, may lead to a resumption of the upward trend.
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📈 Technical Overview:
Technical indicators: Indicate a decline in bullish 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 the 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 indicate a deeper correction.
The critical level $107,500 – Surpassing this may restore bullish momentum and push the price towards new all-time highs.
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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.
