Bitcoin (BTCUSDT) price is currently testing the 26EMA and 12EMA price levels on the Daily chart.
Bitcoin price has been in a medium-term uptrend since April and May 2025.
However, a short-term downtrend pullback has occurred and the price recently bounced up from the 26EMA zone ($104,000).
A morning star candle price pattern printed above the 26 EMA support line.
Large buyer volume could confirm the price candle pattern and Bitcoin price could rally up above 12EMA resistance ($106,000).
If price continues to reject and fall below $106,000 the downtrend would likely continue into June 2025.
Breaking news and stock market correlations could affect the price of Bitcoin and cryptocurrencies.
Tariff news and trade deals are supposed to occur throughout June and July 2025.
Bitcoin price has been in a medium-term uptrend since April and May 2025.
However, a short-term downtrend pullback has occurred and the price recently bounced up from the 26EMA zone ($104,000).
A morning star candle price pattern printed above the 26 EMA support line.
Large buyer volume could confirm the price candle pattern and Bitcoin price could rally up above 12EMA resistance ($106,000).
If price continues to reject and fall below $106,000 the downtrend would likely continue into June 2025.
Breaking news and stock market correlations could affect the price of Bitcoin and cryptocurrencies.
Tariff news and trade deals are supposed to occur throughout June and July 2025.
Nota
Resistance Targets: $106000, $107000, $110000, $112000.Support Targets: $105000, $103000, $102000, $100000.
Nota
06/05/2025 - BITCOIN (BTCUSD) - Potential Head and Shoulders Pattern - DailyBitcoin price has formed a potential head and shoulders pattern on the daily chart.
If price rejects multiple times below the $104,000 resistance neckline, Bitcoin could sell off more in June 2025.
Breaking news, stock market correlations and consumer sentiment can all affect the price of Bitcoin.
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Follow Me on TradingView, Youtube, X, Instagram.
Social Media links are in my profile.
Boost, comment, share to support.
All posts are not financial advice.
Social Media links are in my profile.
Boost, comment, share to support.
All posts are not financial advice.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.