Key points:
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Bitcoin is lined up in the lows as RSI drops and retests $100,000.
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With uncertainty over Trump and Musk Stoke, traders have little hope for a fast BTC price rebound and return to higher levels.
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U.S. labor market data is due to new volatility injected on June 6.
Bitcoin (BTC) Before the Wall Street Open on June 6, $103,000 was returned as the market recovered from snapshot losses.
Trader: BTC price “crash has begun”
From Cointelegraph Markets Pro and TradingView It shows that BTC/USD will keep its upside potential after $100,500 when it closes on June 5.
Public debate between U.S. President Donald Trump and SpaceX CEO Elon Musk is behind the volatility, whose allegations sparked More than $300 million in crypto clearing.
Despite Bitcoin’s $100,000 support, the activity’s existing concerns over BTC price corrections have exacerbated existing concerns.
For Trader Roman, the advanced framework BTC/USD charts have “signs all over the place”.
“The $BTC failure has begun!” He Tell Followers in the ongoing analysis of X.
“Fighting at 95K and probably lower. It depends on what happens when we merge.”
Trader Friedrich agreed that the next $200,000 level came to the $100,000 chance, calling the price crash “annoying.”
“What to expect? About 105ks of retest, to 87,000. Or over 105.8k-106k, and the journey toward a new ATH begins.” read.
Even those who have a more bullish view of the market may experience the possibility of short-term weaknesses.
Commentator Kevin Svenson marked the decline in Bitcoin’s Relative Strength Index (RSI) over the daily time frame.
“The daily RSI structure is an important indicator to follow,” he Write.
“Currently, the daily RSI is still pointing downward, but we may be one week away from the potential reversal signal.”
Skewed non-agricultural wages to inspire risky assets
Others unfolded the upcoming U.S. macroeconomic data, the next source of risk resource fluctuations.
Related: $100,000 Retest with the highest monthly shutdown ever: 5 things to know about Bitcoin this week
For many, the non-agricultural wage figures are crucial to many as a reflection of the strength of the labor market.
“Morning NFP and unemployment reports could be a catalyst for volatility,” Keith Alan, co-founder of the Trade Resources Materials Indicator, debate The day before.
Allen added that any upward volatility in unemployment could eventually form crypto and stock silver, meaning Hawks Fed policy Probably relax earlier.
“I think the market wants to see a strong economy, too, even if it means longer rates are high, no one will be surprised by the 0.1% disruption, but anything bigger will make the Fed cut in the third quarter,” he said.
On Bitcoin, Allen added that he did not “rule” returns as low as $93,000.
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
