Bitcoin at a Critical Juncture! June 04 2025

[Forum Admin]

Bitcoin at a Critical Juncture!

 

As indicated in the previous analysis of the crypto market leader, Bitcoin, the price had the potential for a correction from the peak of $111,850. This scenario ultimately materialised with the price correcting to nearly $103,000.

In longer-term intervals, such as monthly, favourable conditions have emerged for the formation of a significant upward cycle; however, the breach of the $110,000 resistance level must first be determined.

 

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Under current conditions, if the resistance band of $110,000-$111,850 is not broken, the chart may indicate a false breakout of the ceiling, rendering buy trades in this zone high-risk.
 

In shorter timeframes, such as daily, the formation of Hammer (Pin Bar) and Spinning Top candlestick patterns (indicating market uncertainty regarding recent commercial developments) has provided good support against further price declines and could signal the beginning of an assault on the aforementioned resistance band. This hypothesis becomes significant if the price breaks the key level of $106,500 and consolidates above it; otherwise, the false breakout hypothesis should be considered.
 

Conversely, in a bearish scenario, if the price floor of $103,000 is breached and prices consolidate below it, the chart indicates the potential for further decline towards the support level of $99,500, and in a more severe manifestation, as low as $93,200.