Technical Analysis of Bitcoin: Price Trend Outlook for June 7, 2025

Technical analysis of Bitcoin on June 7, 2025, explores key resistance/support levels and common indicators.

On June 7, 2025, Bitcoin is at a critical price juncture, and technical analysis can shed light on its potential future direction. Based on market data, Bitcoin is currently trading around $103,450, experiencing notable volatility in the past 24 hours. This analysis focuses on key resistance and support levels and common indicators like RSI, moving averages, and trading volume to evaluate Bitcoin’s price trend. In the daily timeframe, Bitcoin is forming an ascending triangle pattern, typically a bullish signal indicating potential continuation of an upward trend. This pattern is characterized by gradually rising prices and reduced volatility near the resistance line. The key resistance zone lies between $104,000 and $105,000, where selling pressure has previously halted upward moves. A breakout above this zone could target $107,700, the recent all-time high. Conversely, key support levels are at $97,000 and $94,000, where price reactions are likely in case of a pullback. The RSI indicator currently stands at 60, signaling a mildly bullish trend but not yet in overbought territory (above 70). This suggests room for further growth, though resistance may be encountered. The 20-day and 50-day exponential moving averages (EMAs) are converging, hinting at a potential bullish crossover, though it’s not yet confirmed. Trading volume has increased recently, indicating heightened trader activity, but reduced inflows to Bitcoin ETFs may signal waning bullish momentum. In the 4-hour timeframe, recent candles show selling pressure near the $104,000 resistance. If the price fails to break this level, a correction to the $97,000 support zone is possible. From a fundamental perspective, factors like easing geopolitical tensions and new capital inflows could support Bitcoin’s price, but news related to monetary policies or trade tariffs could increase volatility. Overall, Bitcoin is in a mildly bullish trend, but a breakout above $104,000 is crucial for sustained upward movement. Traders should closely monitor support and resistance zones and technical indicators to identify optimal entry and exit points. In case of a price correction, support levels may offer good buying opportunities, but caution is advised due to potential sudden volatility.