Bitcoin (BTC) Price Prediction for 3rd June: Will BTC Break Out Above $106K or Face Resistance Again?
The Bitcoin price today is hovering near $105,600 after a modest recovery from sub-$104,000 lows seen at the end of May. This rebound, while notable, now approaches a critical confluence zone that could decide whether Bitcoin price action extends toward $108K or stalls again amid resistance. The broader trend remains bullish, but momentum indicators suggest some caution as BTC tests another short-term hurdle.
What’s Happening With Bitcoin’s Price?
On the weekly chart, Bitcoin price is nearing a key Fibonacci extension at $109,396, with current resistance around the 0.786 level near $106,000. Despite reclaiming ground from the May 31 low of $104,000, BTC still trades beneath the upper resistance band that capped the rally in April and May. A weekly close above this zone would be a major bullish signal, but failure here may trigger further range-bound Bitcoin price volatility.
Looking at the 1-day chart, the pair has formed a textbook bullish continuation pattern after bouncing off the $103,000–$104,000 demand zone. This region coincides with a previous breakout structure and…
The post Bitcoin (BTC) Price Prediction for 3rd June: Will BTC Break Out Above $106K or Face Resistance Again? appeared first on Coin Edition.
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Bitcoin (BTC) Price Prediction for 3rd June: Will BTC Break Out Above $106K or Face Resistance Again?
The Bitcoin price today is hovering near $105,600 after a modest recovery from sub-$104,000 lows seen at the end of May. This rebound, while notable, now approaches a critical confluence zone that could decide whether Bitcoin price action extends toward $108K or stalls again amid resistance. The broader trend remains bullish, but momentum indicators suggest some caution as BTC tests another short-term hurdle.
What’s Happening With Bitcoin’s Price?
On the weekly chart, Bitcoin price is nearing a key Fibonacci extension at $109,396, with current resistance around the 0.786 level near $106,000. Despite reclaiming ground from the May 31 low of $104,000, BTC still trades beneath the upper resistance band that capped the rally in April and May. A weekly close above this zone would be a major bullish signal, but failure here may trigger further range-bound Bitcoin price volatility.
Looking at the 1-day chart, the pair has formed a textbook bullish continuation pattern after bouncing off the $103,000–$104,000 demand zone. This region coincides with a previous breakout structure and…
The post Bitcoin (BTC) Price Prediction for 3rd June: Will BTC Break Out Above $106K or Face Resistance Again? appeared first on Coin Edition.
Read More