Bitcoin Technical Analysis: Market Outlook for June 2, 2025

Technical analysis of Bitcoin on June 2, 2025, covering resistance, support, and indicators.

The technical analysis of Bitcoin on June 2, 2025, reveals a dynamic market with notable volatility. Bitcoin is currently trading around $104,500, experiencing a slight decline from the previous week. This price level is near a key resistance zone defined between $105,000 and $108,000, which has previously halted upward moves and may bring significant selling pressure. On the support side, the $95,000 level has acted as a strong support, preventing further declines multiple times in recent months. Should this level break, the next support lies around $90,000, which could serve as a potential reversal point. Traders should closely monitor these levels, as a break or consolidation here could dictate the market’s next direction. Technical indicators provide valuable insights. The Relative Strength Index (RSI) is currently around 55, indicating neutral momentum with a slight bullish bias. This suggests the market is neither overbought nor oversold, leaving room for potential sharp moves in either direction. The 50-day moving average (MA50) at approximately $98,000 serves as a dynamic support, while the 200-day moving average (MA200) around $85,000 indicates long-term support. From a price pattern perspective, Bitcoin is currently within a short-term ascending channel. However, recent daily candles show the formation of a doji pattern, suggesting market indecision. A break above the $105,000 resistance could pave the way for a move toward $110,000. Conversely, a drop below the $95,000 support may lead to a deeper correction toward $90,000. Trading volume has increased recently, signaling heightened trader activity. This could indicate new capital inflows or institutional involvement, but it requires careful monitoring. A decline in volume alongside falling prices could signal a deeper correction. For traders, the optimal strategy is to wait for a breakout above resistance or below support, with stop-loss orders to manage risk. Given Bitcoin’s high volatility, risk management is crucial. Overall, the market appears mildly bullish in the short term, but upcoming resistances could pose challenges.