As of June 8, 2025, Bitcoin$BTC is trading at approximately $105,490, experiencing a modest gain of 0.54% over the past 24 hours. The cryptocurrency market remains dynamic, with Bitcoin's$BTC price fluctuating between an intraday high of $105,904 and a low of $104,830.
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Technical Analysis: 30-Minute Outlook
Analyzing the 30-minute chart reveals a critical juncture for Bitcoin's short-term trajectory. The price is currently testing the lower bounds of its recent trading range, having breached the third support level (S3) and moved below the lower Bollinger Band. This indicates heightened bearish pressure and potential for increased volatility in the coming half-hour.
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Volume and Momentum Indicators
Trading volume has seen an uptick, often preceding significant price movements. The Moving Average Convergence Divergence (MACD) indicator is showing a bullish divergence, suggesting the possibility of a short-term reversal.
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Potential Scenarios
Bearish Continuation: If selling pressure persists, Bitcoin could experience further decline, potentially targeting the next support level around $104,000.
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Short-Term Reversal: Given the oversold conditions, a relief rally could occur, with Bitcoin potentially retesting the $105,000 level as resistance.
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Conclusion
In the next 30 minutes, Bitcoin's$BTC price action will be pivotal. Traders should monitor key support and resistance levels, along with volume and momentum indicators, to assess the likelihood of a short-term reversal or continuation of the current trend.
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Note: Cryptocurrency markets are highly volatile. This analysis is for informational purposes only and should not be construed a
s financial advice.
