Bitcoin Stabilizes At $104,000 Mid-Range As Market Eyes Next Breakout 📈
Bitcoin encountered a sharp dip amid a public dispute between US President Donald Trump and Elon Musk, falling below $101,000 before stabilizing around $104,000. Market analyst Crypto Daan emphasizes price levels between $100,000 and $106,000 as crucial for Bitcoin's next breakout potential.
Bitcoin's bullish performance in May saw a high near $112,000, but it has since corrected to around $104,000 by the end of May. If Bitcoin breaks below $100,000, further corrections could occur, with potential support around $95,000 and $85,000. Conversely, a move above $106,000 might signal the end of the correction and a target towards $120,000.
Currently trading at $104,650, Bitcoin indicates bullish control, with weekly gains of 1.12% and monthly gains of 7.49%. The Relative Strength Index suggests a potential recovery to the overbought zone, reinforcing optimism in the market.
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