Bitcoin Trading at $103,721 as June 9 Close Approaches

Bitcoin is currently trading around $103,000 following a failed attempt to surpass $107,100. Market technician Dr Cat emphasizes that the significant point of interest will be the weekly close on June 9, where a potential "TK golden cross" may occur on the Ichimoku chart.

Key Insights for Bitcoin Price

The pull-back is viewed as routine consolidation rather than a trend reversal.
Support is identified at approximately $99,900, with high liquidity between $98,900 and $100,200 likely to attract buyers if tested.
A "TK golden cross" would indicate strong near-term momentum overcoming the baseline trend.
Dr Cat considers it unlikely for Bitcoin to drop below $98,000, noting the rising Kijun-sen support.
Traders are preparing for macroeconomic data releases, including the US Consumer Price Index on June 11 and the Federal Reserve's meeting on June 17-18.
As long as Bitcoin remains above $99,000 and the Chikou-span stays above price, Dr Cat maintains an all-time-high outlook.
June 9 marks a critical date for validating or postponing the projected 2025 bull cycle.

At press time, Bitcoin is priced at $103,721.