Technical analysis by BandForBands about Symbol BTC on 6/1/2025

I’ve been outlining this rising wedge pattern for a while now, but here’s the key difference this time: what was previously resistance has now flipped into support. That shift is a critical technical milestone a major test for Bitcoin’s price action.Now, let’s talk scenarios:•If this bearish wedge gets invalidated, we’re looking at a target of $163K—a massive breakout that aligns with broader market momentum.•However, if it fails to hold, we risk breaking down into an M-formation, potentially dropping towards the $80K level.This week is a decisive inflection point. Watch the previous resistance-now-support line closely. It’s also worth noting that the 4H 200MA aligns almost perfectly with this support level, adding confluence to this critical zone.Bottom line:We’re at a pivotal historical moment for Bitcoin, a true make-or-break situation. Stay sharp, stay nimble, and respect your risk management.