Technical analysis of BTC/USD 06/05/2025
Bitcoin (BTC/USD) is trading in a corrective phase on the daily chart following a strong upward move.
Current price is 105200. Support has been found around 103500 (23.6% Fibo) level and a previous consolidation zone that marked the start of the last rally.
A break below 103500 would open the way to 98300 (38.2% Fibo), 94000 (50%), and 89900 (61.8%), which may act as interim supports. The major downside target is 76100 — the 100% Fibo level and the previous cycle low.
MA100 and MA200 are trending upward and remain below the price — confirming the bullish structure.
RSI is at 56.8, in a neutral zone with no signs of overheating.
As long as price stays above 103500, the structure remains bullish. A breakout above 106200 could lead to a retest of 112000. A move below 103500 would signal deeper correction.
Created by Joshua Hayn
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