BTC Technical Analysis — Rebounding After Sell-Off, Short-Term Recovery in Progress

On June 5 (local time), tensions between Elon Musk and Donald Trump finally erupted. Just a week after Musk stepped down as head of the “Department of Government Efficiency” (DOGE), the two began trading blows on X, exposing each other with escalating intensity. The drama triggered a sharp dip in Bitcoin, which has since shown signs of stabilizing.

📈 Resistance Levels
1. $103,800
Current rebound is testing this level, a former support-turned-resistance zone;
A breakout may continue the short-term bullish recovery.
2. $104,400
Area of prior range-bound consolidation on June 5;
If the price holds above, BTC could revisit the critical $106,000 region.
3. $106,058
Marked by the yellow line in the chart, this level has capped multiple rallies recently;
A clear breakout above would shift momentum back to the bulls.

📉 Support Levels
1. $102,052
Purple line on the chart; the origin of today’s strong rebound;
Holding this level is crucial to avoid a double-dip pullback.
2. $101,000
Intermediate structure from today’s drop;
Breaking it may invite renewed selling pressure.
3. $100,400
24-hour low and historical high-volume area;
A breach could lead BTC to test the psychological $100K zone.

🧠 Outlook Summary
After yesterday’s sharp drop, BTC found support near $102,000 and is now in a rebound phase:
A break above $103,800–$104,400 could open the way toward $106,000;
Failure to sustain the rebound or a dip below $102,000 may signal further downside ahead.

Disclaimer
This analysis is generated using AI-based interpretation of market data and is for educational purposes only. It does not constitute investment advice.