Bitcoin just took a little tumble, dropping below $106,000, and now it’s hanging out in consolidation-ville, plotting its next move. Who knows? It might just pop back up above $105,500 and surprise us all.
- Bitcoin took a dive below the $106,000 mark. Oops.
- The price is hanging out under $105,500 and the trusty 100-hour Simple Moving Average.
- There’s a sneaky bearish trend line forming, with resistance chilling at $104,850. (We see you, resistance.)
- If Bitcoin stays above $103,500, it might just pull a comeback!
Bitcoin Price: Battling Resistance Like a Pro
Bitcoin took a nosedive below the $107,500 zone, then accelerated its downward journey, breezing past the $106,200 and $106,000 levels like it was in a hurry.
At one point, it dipped below the $105,000 support level, then decided to test the $103,500 zone. It even hit a low of $103,400 before deciding to catch its breath. Then, like any drama queen, it tried to climb above the 23.6% Fib retracement level. Fancy!
But the bears weren’t having it. They made sure Bitcoin stayed under $105,000, and let’s not forget, the 100-hour Simple Moving Average isn’t being very friendly either. Meanwhile, a pesky trend line at $104,850 keeps saying, “Not so fast.”
Looking up, there’s immediate resistance at $105,000. If it gets past that, we might see $105,500, and the next battle might be at $106,150. That’s also near the 50% Fib retracement level, for all you chart nerds out there.
If Bitcoin breaks through $106,150, we could be in for a wild ride upwards. Think $108,000, maybe even $108,800. But let’s not get too carried away—Bitcoin’s history with ‘surprises’ is legendary.
Another Dip? Oh Joy.
If Bitcoin can’t break the $105,000 resistance, well, it might just slide back down. The first stop? $104,150. After that, it’s $103,500, and who knows? Maybe we’ll see $102,500. If things get really spicy, $101,200 could be next. Yikes. Let’s hope it doesn’t go all the way to $100,000. Below that? Bearish vibes all around.
Technical Indicators:
Hourly MACD: It’s losing steam in the bearish zone. Someone get this MACD a cup of coffee!
Hourly RSI (Relative Strength Index): It’s hanging just above 50, playing it cool.
Major Support Levels: $104,150, then $103,500. Buckle up.
Major Resistance Levels: $105,000 and $106,200. The usual suspects.
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2025-06-20 05:34