Technical analysis by cryptodailyuk about Symbol BTC on 6/4/2025

🔍1. General Context and Short-Term TrendShort-Term Trend: The last dozen or so candles have shown strong fluctuations — a typical sideways market (consolidation) after a clear upward impulse and a quick drop. The price is currently trading in the range of around $104,900–$106,500.Recent Strong Move: Clear upward impulse from around $104,900 to around $106,900, followed by a quick correction.📌2. Supports and Resistances (H1)Supports:$105,000–$105,200 — Bottom of local wicks and several demand tests.$104,900 — Lowest point of the last few hours, clear buyer reaction.Resistances:$106,200–$106,400 — Upper area of ​​several candles, strong price rejection.106,900–107,000 USD – The peak of the last impulse, a place of clear supply.✅3. Candlestick formations and price actionPin bar / long wick: Candles with long lower wicks are visible around 105,000 USD, which suggests that buyers are defending support.Double top? (Double top): Peaks around 106,900 USD (03.06 and 04.06) – a classic signal of a potential change in direction to the lower.Possible consolidation: The last few hours have been a series of alternating candles, signaling the lack of a clear advantage of bulls or bears.🧠4. Technical indicators (MACD and RSI)MACD (lower panel)The MACD line crossed the signal line from the bottom to the top, then a quick correction and currently the MACD is close to zero – no clear trend, momentum has slowed down.MACD Histogram: Declining, close to zero, suggesting potential lack of strong trend and possibility of further consolidation.RSI (middle panel)RSI value ~44–48 – not overbought or oversold, neutral market state.No divergence – RSI generally follows price, no strong divergences are visible.RSI bounced off 30 (tested oversold zone and returned to neutral range).🧠5. What could be important?Volatility Squeeze: Low volatility after a sharp move often heralds another impulse.Potential Fakeout: If support at $104,900 is broken falsely (e.g. quick wick and return), a move up could occur.No clear trend on the hourly chart, rather sideways market in the short term.📊Summary and scenariosScenario 1 (bullish):If the $105,000-$104,900 level holds, we can expect a test of $106,200-$106,400 and perhaps another attempt to approach $107,000.Scenario 2 (bearish):If the $104,900 support is broken (with a candle closed below this level), the next target is around $104,500 and below.What to watch out for?Timing of macro data releases - may increase volatility.Sudden breakouts from consolidation - no trend = higher risk of sudden, false moves.