Will Bitcoin Bounce Back or Just Keep Dropping? Find Out Now! 🚀💸

by

Oh, Bitcoin. Started off feeling invincible, then decided to take a little nap at $103,200. Classic BTC, always keeping us on our toes. Now, it’s sitting pretty above $105k, like a cat pretending it’s not plotting its next move. Will it rally above $106,000 or sink back into the abyss? Grab your popcorn. 🍿

  • Bitcoin took a tumble below $106,500 — because who likes easy wins?
  • Now it’s hanging out above $105,000 and the 100-hour simple moving average — basically, BTC’s version of holding your coffee carefully on a bumpy train.
  • There’s a bearish trend line forming, resistance at $105,550. Sounds fancy, right? It’s just Bitcoin playing hard to get.
  • If it gets past $106,000, we might just see it breaking out like a Good Charlotte chorus — catchy and a little bit rebellious.

Bitcoin’s Upside or Just More Drama?

After a little dip-snobbery below $106,500, Bitcoin decided to test the lower support at $103,200 — basically playing hide and seek with itself. The low was struck, but now it’s consolidating, probably trying to figure out what it wants for breakfast.

It bounced a bit above $104,200, retracing 23.6% (because Fibonacci levels are the new black). Currently, BTC is leaning on $105,000 and the 100-hour average — good for now, but will it hold?

Resistances? Yes, they’re real. First stop is around $105,550, then a big one at $106,000, and perhaps a cheeky rally toward $106,800. If it climbs past there, watch out: $108,000 and maybe even $110,000 — the dream, right? 💭

If it manages to jump over $106,800, BTC could be sailing upwards to the promised land of $108,000. Or maybe it just likes to tease us and drop again. Who knows — Bitcoin’s mood swings are legendary.

Or Is This Just the Beginning of Bitcoin’s Meltdown? 😱

If Bitcoin can’t get its act together and break above $106,000, don’t be surprised if it starts slipping once more. Immediate support? Slightly lower at $105,000 — just enough time to panic buy. Major support kicks in at $104,200, then $103,200, and if it gets dramatic, watch out below at $102,500. Main support? $101,200 — because we love a good crash story.

Technical jargon time!
Hourly MACD: gaining bullish momentum — like waking up late and still praising the day.
RSI: above 50 — still in the optimistic camp, for now.

Key levels: Support at $105,000 and $104,200. Resistance at $106,000 and $106,800. Stay tuned, dear readers — this rollercoaster is far from over. 🎢

Read More

2025-06-02 04:02