$BTC
As of June 6, 2025, Bitcoin (BTC) is trading at approximately $104,262, experiencing a slight uptick of 1.98% from the previous close.
đ Short-Term Outlook: Bearish Consolidation
BTC has recently corrected by about 7% from its all-time high of $111,880, settling around $104,000. Technical indicators suggest a weakening short-term momentum, with resistance levels around $108,300 and $112,000. ďżź ďżź
đ Long-Term Outlook: Bullish Potential
Despite short-term fluctuations, the long-term outlook remains positive. Analysts project that BTC could reach up to $150,000 by mid-2025, driven by institutional adoption and favorable policies. Additionally, the establishment of the U.S. Strategic Bitcoin Reserve in March 2025 could further bolster confidence in Bitcoinâs value. ďżź
đ Key Technical Levels
⢠Support: $81,364
⢠Resistance: $86,819
⢠RSI (14): 42.66 (neutral)
⢠Stochastic RSI: 7.86 (indicating potential buying opportunity) ￟
â ď¸ Market Dynamics
While short-term corrections are common, the current consolidation phase may present buying opportunities for long-term investors. However, caution is advised as market volatility persists.
Note: Cryptocurrency investments are highly volatile and speculative. Always conduct thorough research and consider consulting a financial advisor before making investment decisions.