Technical analysis by The_Alchemist_Trader_ about Symbol BTC: Buy recommendation (6/1/2025)

The question on many traders’ minds right now is whether Bitcoin is setting up for a new all-time high. Currently, price action has reverted to a critical support zone ranging from $103,000 to $102,000, which has managed to absorb recent aggressive selling. This zone is significant not only due to its psychological importance but also because it has helped slow downside momentum, allowing price action to consolidate into a smaller time frame range.This support level aligns with a previous key low established in the low $90,000s, which was a major turning point in the prior leg of the uptrend. That low marked a region of high volume and buyer interest, and it now forms a confluence zone alongside daily timeframe support. These overlapping factors increase the validity of this area as a strong base for a potential reversal.From a technical perspective, holding this zone is essential if Bitcoin is to maintain its bullish structure and attempt another push higher. If a bounce occurs from current levels, it significantly increases the odds of retesting the all-time high in the coming weeks. The structure would then remain intact, showing a sequence of higher lows and higher highs.However, if this support range fails to hold, it would likely expose Bitcoin to a much deeper correction, possibly invalidating the current uptrend. While a breakdown hasn’t occurred yet, it’s a scenario worth monitoring closely as it would shift the broader market sentiment and strategy.In conclusion, $103K–$102K is the battleground, and how Bitcoin behaves around this area will determine the next major move. Bulls must defend this zone to keep the all-time high scenario alive.