Bitcoin’s Bumpy Ride: Will It Peak or Plunge Below $100K? 🤔🚀

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Bitcoin‘s Bumpy Ride: Will It Peak or Plunge Below $100K? 🤔🚀

Oh, Bitcoin—our favorite rollercoaster. After a glorious surge past $111K, it’s now taking a well-deserved breather, possibly for some deep soul-searching or just a bit of fresh air. Momentum’s cooled, but don’t worry, the overall grand scheme of things remains as bullish as your Aunt Edna’s endless Christmas ham.

Right now, the price looks like it’s chilling at support levels, maybe gathering strength or just pondering life’s big questions. Traders are biting their nails—will this correction turn into a dramatic plunge or a shiny new upward trajectory? Stay tuned, popcorn at the ready.

Technical Analysis (Because We Love a Good Chart Drama)

By ShayanMarkets (the person who probably knows what they’re talking about)

The Daily Chart: The Calm Before the Storm?

Bitcoin’s currently holding above the $103K mark, having swept the $101K liquidity pool like a boss. The bullish vibes are still in play—think of it as a reluctant but loyal fan at a concert. The 100-day and 200-day moving averages are sitting pretty at $92K and $95K, sloping upwards like a determined squirrel chasing an acorn, promising that bullish momentum isn’t totally dead yet.

The RSI has just nudged above 50—sort of like waking up from a long nap—suggesting the market’s neutral as a cucumber. As long as it doesn’t drop below $100K–$101K, this correction is probably just a mild hiccup. But if the resistance around $106K–$108K slips away, we might be revisiting the $95K neighborhood, or worse, meeting the moving averages again. Yawn.

Bitcoin Daily Chart

The 4-Hour Chart: Wicks, Wagers & Whims

On the 4-hour scene, Bitcoin performed a little jig below the descending wedge but then found a demand party near $100K, bouncing back like a pinball in a funhouse. This kind of V-shaped recovery hints at a bullish reversal, like your favorite rom-com:boy meets coin, coin meets breakout.

However, the rally is inching towards resistance again at about $105K, and RSI is still somewhat shy—under 50, like that friend at the party who’s always cautious. The wicked dip below $100K looks suspiciously like a liquidity grab—market makers playing a sneaky game to shake out stops before rallying higher.

If the buyers can stand firm above $100K and flip the $105K–$106K barrier, we could be zooming toward $108K or even a shiny new all-time-high above $112K. Otherwise, expect more of the same between $101K and $106K—like groundhog day, but with crypto.

Bitcoin 4-Hour Chart

The On-Chain Soap Opera: Fewer Coins, More Drama

Now, onto the on-chain gossip—the Reserve chart shows Bitcoin on a diet of sorts, hit a historic low of 2.3 million BTC on exchanges. Seems the big players are hiding their stacks, probably off enjoying a tropical beach or just avoiding the gossip columns.

This less-liquidity-party means fewer coins available for quick trade, increasing the “hurry-up-and-buy” vibe. It’s like the bank vaults are clutching onto their gold, which—surprise!—makes any demand spike feel like a giant effect on the price.

Much of this behavior is driven by institutional types—Fidelity, BlackRock, and their ilk—moving coins into long-term coffers and ETFs, away from the messy exchange floor. Basically, Bitcoin’s becoming more exclusive—like a VIP club where only the best coins get in. And that, my friends, sets the stage for a potentially spectacular upside. Or not. But hey, at least there’s drama.

Bitcoin Exchange Reserve

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2025-06-08 10:27