Key points:
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With the weekly candles shut down, Bitcoin is working to complete a “successful” retest.
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Since liquidity analysis shows that conditions favor a large number of transient squeezes, BTC price volatility is expected.
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If the price drops, $100,000 may still be the target.
Bitcoin (BTC) Hold $105,500 in the weekly closure on June 8 with hopes of an end to BTC price correction.
Bitcoin clearing risks rise with price coil of $105,000
From Cointelegraph Markets Pro and TradingView Show BTC/USD in Travel $100,500 June 5.
Now almost back to weekly open levels, Bitcoin has once again inspired traders to continue and resume bull runs on betting on the rise.
“On the daily schedule, Bitcoin showed signs of breaking its two-week downward trend (light blue) while also turning it into support earlier today.” Tell X Followers are uploading charts with key levels.
“Daily shutdown and retesting ~$106600 (black) even better continues the trend.”
BTC’s price action has exceeded its daily approach to its 10-day simple moving average (SMA), which is what trader Superbro calls it a prerequisite for “invalidating the bear case.”
$ btc Still need to retract the 10 MA and H&S necklines on a closed basis to invalidate the bear box
Before that, this wasn’t the place to desire to be aggressive, then it was a retest of FVG and 50 mA when you’re sure it’s over 😂 pic.twitter.com/taeg3wzgom
– Super ฿ro (@superbitcoinbro) June 7, 2025
Meanwhile, trader Cas Abbe hopes to order liquidity in price direction for tips.
This is above the spot price and above the spot price, causing Abbe to predict the magnet-like movement to “grab” it.
he Summarize On X.
“If BTC pulls 10% from here, the shorts will be liquidated $15.1 billion. Meanwhile, a 10% downward relocation will liquidate $9.58 billion in desire.”
Abbe pointed out that the negative funding rate points to the “big shortage” that occurred over the weekend.
“I think BTC’s big move will be done next week and may push it up by 109k-$110,000,” he concluded.
$104,400 Now Key Weekly Close Level
Some people see the potential for further support first.
Related: Bitcoin is close to $105K as Donald Trump calls for “full point” Fed price cuts
Update X Follower, Popular Trader Crypnuevo in His Market Forecast saw The logical place to build a long BTC position is $100,000.
He wrote: “100k is the strongest psychological support, so, as Sunday explained, I built some areas of desire below,” Tag $100,000 mark.
Meanwhile, Rekt Capital will support retesting as “success” after its all-time high on its weekly schedule in May.
“Can Bitcoin successfully confirm this retest, with a weekly closing price of more than $104,400, which will be the fourth consecutive week?” he asked.
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.
