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BTC Technical Analysis —— After hitting the bottom, there is still room for recovery in the short-term.
In the early hours of Beijing time, Musk and Trump completely fell out. Less than a week after Musk stepped down as the head of the "Department of Government Efficiency" (DOGE), the two began to exchange explosive news and frequently attack each other on the X platform. This also led to a rapid decline in BTC, which then gradually stabilized.
📈 Resistance Level Analysis
1. $103,800
The current rebound is approaching this area, which serves as the resistance converted from the previous small platform support.
If it can effectively break through, it is expected to continue the short-term rebound momentum.
2. $104,400
Before June 5th, the market was in a fluctuating range, and the bulls were obviously blocked in this area.
If the rebound breaks through and stabilizes, it will open up space to test the key resistance at $106,000.
3. $106,058
The yellow resistance line in the chart represents the area of multiple top overlaps;
If there is a breakout with increased volume, it may change the short-term downward trend and return to a bullish rhythm.
📉 Support Level Analysis
1. $102,052
The area indicated by the purple line is today's strong rebound starting point, and the support confirmation is valid.
If it tests this area again, be wary of the risk of a second pullback.
2. $101,000
For today's bearish continuation structure, if it breaks down, it may trigger the bears to exert force again.
3. $100,400
For the 24-hour lowest point and the previous dense trading area, if it fails to hold, it may test the ten thousand dollar level.
This is a key psychological support level and should not be easily broken.
🧠 Comprehensive View
BTC quickly fell yesterday but found support around $102,000 and began to rebound, currently in a short-term recovery phase:
If the subsequent rebound can break through the $103,800~$104,400 area, there may be a chance to test the $106,000 line;
However, if the trading volume cannot keep up or falls below $102,000 again, we need to be alert to the continuation of the downtrend.
Disclaimer
This analysis is based on market data interpretation generated by AI technology, for learning and communication purposes only, and does not constitute any investment advice.
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