Ah, dear reader! For over a month, our dear Bitcoin has pranced about, proudly above the illustrious $100,000 mark, a feat worthy of a grand celebration! 🎉 Yet, alas! The elusive $110,000 remains a distant dream, causing a stir of concern among the faithful. Just recently, it has taken a step back to $107,900, after flirting with its all-time high. How scandalous! 😱
Currently, it finds itself at a most significant resistance, perhaps losing its once vibrant momentum. Technically speaking, our Bitcoin still dances above three moving averages: the 50-day EMA at $105,750, the 100-day EMA at $103,011, and the 200-day EMA at $98,082. A trend still intact, one might say! But lo! Recent candles flicker with hesitation near resistance, and the volume? Oh, it has been steadily declining, like a sad song at a tavern! 🎶
Instead of preparing for a grand breakout, it seems Bitcoin is settling into a long-term consolidation range, trapped between $100,000 and $110,000 like a lover caught in a tedious courtship. The fundamentals, dear friends, are in a rather concerning state. According to the esteemed Swissblock’s Bitcoin Fundamental Index (BFI), the strength of our beloved Bitcoin remains unchanged, despite the metrics for network growth and liquidity. How perplexing! 🤔
Regarded as the threshold for healthy momentum, the 60 level has not been breached by the BFI, which now lingers in the neutral zone, much like a hesitant suitor. Without a noticeable increase in inflows or network activity, BTC lacks the necessary vigor to overcome resistance and embark on a journey of price discovery. If this lack of momentum persists, traders and institutions may begin to take their profits, leading to a potential fall below $105,000, or dare I say, even below $100,000! 😨
As the market may correct toward the 200-day EMA around $98,000, or in a more dramatic twist, plunge down to $90,000, should that psychological support be shattered! Though Bitcoin shows resilience, red flags abound! Without fresh inflows and network growth, a breakout remains but a distant fantasy. The upcoming weeks, dear reader, are crucial for the asset’s midterm trajectory. Let us watch with bated breath! 🧐
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2025-06-12 12:21