Bitcoin Technical Analysis: Market Outlook on June 1, 2025

Technical analysis of Bitcoin on June 1, 2025, focusing on resistance, support, and indicators

On June 1, 2025, Bitcoin is in a price consolidation phase, with technical analysis indicating a cautiously bullish trend, provided key support levels are maintained. The current price of Bitcoin is approximately $104,850, down about 8% from its recent high of $114,220 in mid-May 2025. This minor correction follows a significant bullish rally last month, signaling a period of market consolidation. **Resistance and Support Zones** In the daily timeframe, Bitcoin is oscillating near a critical resistance zone between $112,500 and $115,000. This range has repeatedly acted as a barrier to further gains, and breaking it could signal a continuation of the uptrend. On the downside, key support levels are at $104,000, $100,500, and $93,000. The $104,000 support is a critical level, and holding it is essential to avoid a deeper correction. **Technical Indicators** The Relative Strength Index (RSI) is currently around 48, suggesting a neutral state with a slight bullish bias. This indicates the market is consolidating without entering overbought or oversold territory. The MACD indicator shows a mild bearish crossover but remains in positive territory, reflecting relative buyer strength. The 50-day moving average, around $103,800, serves as dynamic support, with the price recently reacting positively near this level. **Pattern Analysis** In the 4-hour timeframe, Bitcoin is moving within a gentle ascending channel but has recently faced selling pressure after hitting the channel’s upper boundary near $112,500. A symmetrical triangle pattern is forming, which could signal a significant move depending on whether the price breaks resistance or support. Daily trading volume is approximately $32.6 billion, down from recent highs, indicating trader caution. **Potential Scenarios** Bullish Scenario: If Bitcoin breaks the $112,500 resistance with high trading volume, it could target $115,000 and potentially $122,000. This scenario is supported by increased demand via Bitcoin ETFs and institutional inflows. Bearish Scenario: A break below the $104,000 support could lead to a correction toward $100,500 and then $93,000. This becomes more likely with declining trading volume and rising selling pressure. **Volume and Market Factors** Recent trading volume reflects reduced activity compared to market peaks but remains at a reasonable level. External factors, such as growing Bitcoin adoption by major corporations and favorable monetary policies, could bolster the bullish trend. However, traders should monitor changes in interest rates and cryptocurrency regulations, as these could impact the market. **Conclusion** Bitcoin is currently at a pivotal point. Maintaining key support levels and increasing trading volume could drive a continued bullish trend. Traders should closely watch RSI and MACD indicators, resistance and support levels, and volume changes to make informed decisions.