Bitcoin Technical Analysis: Price Trend Forecast for June 8, 2025

Technical analysis of Bitcoin on June 8, 2025, exploring resistance, support zones, and indicators.

As of June 8, 2025, Bitcoin is trading around $105,122, experiencing a 0.47% decline over the past 24 hours. Technical analysis indicates a short-term corrective phase, likely driven by selling pressure at key resistance zones. This analysis explores Bitcoin’s resistance and support levels, common indicators, and potential price trends. **Resistance and Support Zones** Bitcoin is currently near a significant resistance zone between $105,000 and $106,000. This level has historically acted as a strong price ceiling, and breaking through it would require substantial trading volume and bullish momentum. A successful breakout could push prices toward the all-time high of $111,980. On the downside, key support levels are at $97,665, $94,000, and $90,000. The $97,665 level is a critical near-term support, and holding above it could signal a continuation of the bullish trend. A break below this support may lead to a decline toward $94,000. **Indicator Analysis** The Relative Strength Index (RSI) on the daily timeframe shows a bearish divergence, where the price is making higher highs, but the RSI fails to follow, indicating weakening bullish momentum. This suggests a potential short-term correction. Additionally, the MACD indicator on the daily chart displays a bearish crossover, signaling increased selling pressure. The weekly timeframe shows Bitcoin trading above the 50-day EMA, but the gap between the price and moving averages is narrowing, hinting at a possible slowdown in the bullish trend. **Price Pattern Analysis** In the 4-hour timeframe, Bitcoin is oscillating within a short-term descending channel and is approaching the upper trendline. A valid breakout above this trendline could trigger a strong bullish signal, potentially pushing prices higher. However, failure to break this resistance may result in a decline toward the channel’s lower bound around $94,000. Some analysts have noted the potential formation of a head-and-shoulders pattern, which, if confirmed, could drive prices toward $90,000. **Conclusion and Outlook** Given current market conditions, Bitcoin is likely to face short-term selling pressure, potentially correcting to support levels at $97,665 or $94,000. However, holding above $97,665 could pave the way for a push toward higher resistance levels. Traders should monitor trading volume and price reactions at these key levels. In the long term, fundamental factors like increased ETF inflows continue to support a bullish outlook, but short-term caution is warranted. **Key Considerations for Traders** Short-term traders may find opportunities to enter long positions near support levels, with stop-losses placed below key supports. For long-term investors, maintaining key support levels signals a continuation of the bullish trend, but a break below these levels could indicate a deeper correction. Monitoring indicators and trading volume is crucial at this juncture.