Jun 6, 2025
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Bitcoin Price Recovers to Nearly $104,000 Amid Bearish Signals
Bitcoin Technical Analysis Summary
- Bitcoin (BTC) shows a constructive broader outlook, but short-term prospects are negative.
- The price recovered to nearly $104,000 from a low of $104.30, influenced by U.S. equity futures.
- A breakdown from a head-and-shoulders pattern indicates a shift from bullish to bearish trends.
- The bounce is likely a retest of the neckline, where selling pressure may increase.
- Immediate support levels identified at $100,000 and $95,500.
- A break above $107,000 is required to negate the current bearish trend.
