📊 BTC Technical Analysis: Oscillation and pullback, key support tests long positions' confidence
BTC has encountered resistance multiple times after challenging $106,000, entering a short-term sideways consolidation pattern. The current price is near the support area below, and the future direction will be determined by the battle between long positions and short positions.
📈Resistance Level Analysis 1. $105,300 Local rebound high points, the price has repeatedly attacked this point and then retreated, forming a short-term resistance level; If it breaks through and stabilizes, it may indicate that short-term long positions are beginning to gain strength. 2. $106,000 Repeatedly reaching highs but stopping here, indicating that the bears are defending this area resolutely; If a breakout occurs with increased volume, it can be seen as a signal of a long positions breakout from the consolidation zone. 3. $106,500 At the stage high point in early June, once it breaks through, it will open up a new round of upward space; It needs to be accompanied by a significant increase in trading volume to confirm the trend reversal.
📉support analysis 1. $104,564 The purple support line in the image has bounced back multiple times in the short term; If it fails to hold, the short-term structure will be damaged, and further declines may occur. 2. $104,000 The bottom of the last consolidation platform is expected to form a double bottom pattern; If the pullback does not break, the rebound space will open up. 3. $103,200 As the starting point for the previous volume increase, it has strong support significance; If it continues to break below this level, be aware of entering a medium-term downward channel.
🧠 Comprehensive Analysis BTC is currently in the middle of a consolidation range, with a weak trend but not out of control: If it can stabilize at $104,564 and attempt to break through $106,000, long positions still have a chance to control the pace; If it breaks support again, we need to beware of the continuation of the weakening trend and pay attention to the defense situation at $104,000.
Disclaimer This analysis is based on market data interpretation generated by AI technology, for educational and communication purposes only, and does not constitute any investment advice. Investors should make independent decisions based on their own risk tolerance, and properly manage asset allocation and risk.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
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Hongkai
· 06-05 17:29
When will I be able to receive rewards? Today is June 5th, but the event is still ongoing, and the expiration date of the event shows as June 4th.
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VinitS
· 06-05 10:14
when will I get rewards? today is June 5 but campaign is still going on and campaign expired date showing June 4.
📊 BTC Technical Analysis: Oscillation and pullback, key support tests long positions' confidence
BTC has encountered resistance multiple times after challenging $106,000, entering a short-term sideways consolidation pattern. The current price is near the support area below, and the future direction will be determined by the battle between long positions and short positions.
📈Resistance Level Analysis
1. $105,300
Local rebound high points, the price has repeatedly attacked this point and then retreated, forming a short-term resistance level;
If it breaks through and stabilizes, it may indicate that short-term long positions are beginning to gain strength.
2. $106,000
Repeatedly reaching highs but stopping here, indicating that the bears are defending this area resolutely;
If a breakout occurs with increased volume, it can be seen as a signal of a long positions breakout from the consolidation zone.
3. $106,500
At the stage high point in early June, once it breaks through, it will open up a new round of upward space;
It needs to be accompanied by a significant increase in trading volume to confirm the trend reversal.
📉support analysis
1. $104,564
The purple support line in the image has bounced back multiple times in the short term;
If it fails to hold, the short-term structure will be damaged, and further declines may occur.
2. $104,000
The bottom of the last consolidation platform is expected to form a double bottom pattern;
If the pullback does not break, the rebound space will open up.
3. $103,200
As the starting point for the previous volume increase, it has strong support significance;
If it continues to break below this level, be aware of entering a medium-term downward channel.
🧠 Comprehensive Analysis
BTC is currently in the middle of a consolidation range, with a weak trend but not out of control:
If it can stabilize at $104,564 and attempt to break through $106,000, long positions still have a chance to control the pace;
If it breaks support again, we need to beware of the continuation of the weakening trend and pay attention to the defense situation at $104,000.
Disclaimer
This analysis is based on market data interpretation generated by AI technology, for educational and communication purposes only, and does not constitute any investment advice. Investors should make independent decisions based on their own risk tolerance, and properly manage asset allocation and risk.