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šļø Date: June 8, 2025 š Timeframe: 4-Hour (4H) š° Current Price: ~$105,500 --- š¹ Market Overview
Bitcoin has recently bounced from a strong demand zone near $104,084 and is now testing a key descending trendline resistance. Price action is tightening, suggesting a possible breakout or rejection soon.
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š Key Technical Highlights
š Trendline Resistance:
A well-respected descending trendline is being tested.
Last touched highs: $111,959 ā $106,924 ā current $105,500
Price needs a clean breakout to shift structure bullish.
Important: US CPI Y/Y Data Due Today Forecast: 2.4% | Previous: 2.4%
Market momentum depends on CPI coming in at 2.4% or lower. A higher reading could trigger a pullback in stocks and crypto. Even a 2.4% result may lead to sideways price actionāneither bullish nor bearish. Stay alertātodayās data could set the tone for the markets.
We've identified a rising wedge pattern on š #BTC Dominance (BTC.D), which has now broken to the downsideāa bearish signal for BTC.D. This could mark the beginning of an altcoin season as capital starts flowing out of Bitcoin and into altcoins š
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