Technical Analysis of Bitcoin (BTC) – Thursday, June 5, 2025
Bitcoin (#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 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 towards $101,000.
Nearby Resistance: $106,550 – Breaking through this level could open the way to test $107,500, which is a critical level that, if exceeded, may lead to a resumption of the upward trend.
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📈 Technical Outlook:
Technical Indicators: Indicate a decline in short-term upward momentum, with potential sell signals emerging.
Chart Pattern: A "cup and handle" pattern has formed on the chart, which could signal a potential rise if a breakout above $111,900 is confirmed.
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🧠 Watchlist Recommendations:
Staying above $105,000 is considered a positive signal, while breaking below $104,000 could indicate a deeper correction.
Critical level $107,500 – Exceeding this level could restore upward momentum and push the price towards new record levels.
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🚨 Disclaimer: 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.
