Bitcoin Technical Analysis: Market Outlook on June 4, 2025

Technical analysis of Bitcoin on June 4, 2025, exploring resistance, support, and indicators

On June 4, 2025, Bitcoin is trading within a range of $103,400 to $106,500, with the market in a critical phase. Technical analysis on the 4-hour timeframe indicates the formation of a bearish flag pattern, suggesting a potential continuation of the short-term downtrend. Recent attempts to break the $104,700 resistance have failed, with bearish candles signaling strong selling momentum. **Key Resistance and Support Levels** Key resistance levels are currently around $106,000 and $108,500. The $106,000 level is significant due to prior price reactions and candle congestion. A high-volume breakout above this level could push prices toward $108,500. On the downside, key support levels are at $97,600, $94,000, and $91,600. The $94,000 level, acting as the lower boundary of a long-term ascending channel, has been tested multiple times, and a break below it could lead to a deeper correction toward $91,600. **Indicator Analysis** The RSI on the 4-hour timeframe is at 37, nearing oversold territory, which could indicate a potential easing of selling pressure soon. However, no strong bullish signals have emerged yet. The 50-day and 200-day EMAs and SMAs suggest a short-term bearish trend, as the price is trading below these lines. Nonetheless, the 200-day moving average near $94,000 could act as dynamic support. **Price Pattern Analysis** The bearish flag pattern on the 4-hour chart reinforces the likelihood of a correction to lower levels. However, a breakout above this pattern could generate a strong bullish signal. A doji candle near the $104,700 resistance indicates market indecision. If buyers increase trading volume, a breakout above this resistance is possible. **Market and Fundamental Factors** Recent weeks have seen increased inflows into Bitcoin ETFs, which could serve as a bullish catalyst. However, global economic concerns and stock market volatility may amplify selling pressure. Bitcoin’s dominance, currently around 63%, reflects its relative strength in the crypto market. **Outlook and Strategy** In the short term, a correction to $97,600 or even $94,000 is likely, but holding the $94,000 support could pave the way for a bullish reversal. Traders should wait for confirmation of a breakout above $106,000 or consolidation at support levels. For long-term investors, buying at support levels with proper risk management is advisable, as Bitcoin has the potential to reach $150,000 in the mid-term. In conclusion, Bitcoin is currently in a corrective phase, but technical and fundamental signals suggest a potential bullish reversal if key support levels hold.