Bitcoin Technical Analysis: Market Outlook for June 5, 2025

Technical analysis of Bitcoin on June 5, 2025, covering resistance, support, and indicators.

On June 5, 2025, Bitcoin is in a corrective phase, with technical analysis indicating a short-term bearish trend. The price is currently trading around $104,500, and in the 4-hour timeframe, signs of selling pressure are evident. A notable pattern in the chart is a bearish flag, which could signal further downside unless the price breaks above the key resistance at $108,500. Resistance and support zones are critical in technical analysis. Currently, key resistance levels are at $108,500 and $110,000. These levels have acted as price ceilings in the past, and breaking through them would require strong buying momentum. On the other hand, significant support levels are at $104,000, $100,000, and $97,600. The $104,000 level has been a critical support, preventing further declines multiple times. If this level breaks, a drop to $100,000 or lower is possible. Technical indicators provide further insight. The RSI (Relative Strength Index) is around 37, approaching oversold territory, which could indicate waning bearish momentum, though no strong bullish signal has emerged yet. The 20- and 50-day exponential moving averages (EMAs) are below the current price, reinforcing the dominance of sellers in the short term. A break above key resistance is needed to shift the trend. From a price pattern perspective, there’s a potential bearish head-and-shoulders formation. If completed, this pattern could lead to a significant price drop. However, if the price holds the $104,000 support and rebounds, a bullish wave could follow. Trading volume has decreased recently, suggesting reduced trader participation, which may lead to price consolidation in the current range. Overall, based on current data, Bitcoin is in a corrective phase with a risk of further decline toward lower support levels. Traders should closely monitor the mentioned support and resistance levels and wait for confirmation of a breakout or reversal before entering trades. Risk management is crucial in this environment.