After a great fall in the relationship between the strongest supportive individuals, Elon Musk and Donald Trump on Thursday, led by Bitcoin (BTC) the broader encryption market in increasing fluctuations. The leading currency has led to less than 101 thousand dollars in the past 24 hours before the support level recovered over 101,500 dollars to trade about 104,543 dollars on Friday, June 7, 2025, during the trading session in late North America.
Amid the increasing fluctuation of encryption, which caused a significant rise in forced encryption qualifiers, the fear of more short -term sales is still clear. Moreover, the Bitcoin’s Fear and Greed Index decreased from more than 62 percent, indicating the greed of the market, to about 45 percent at the time of this report.
What after the price of bitcoin?
Since recently reached the highest new level at about $ 111,690, the BTC price has been held in the direction of a short -term decrease. The recent recovery in the past 24 hours confirmed that the BTC price continues to move in a symmetrical identical channel.
From the point of view of technical analysis, the BTC price is at a decisive crossroads, which may mean either more correction or a new gathering towards a new ATH. From the bullish point of view, BTC PRICE recorded a golden cross in the daily time frame between the simple average average (SMA).
In the four -hour time frame, the BTC price was re -tested to the upper boundaries of the falling canal. With a 4 -hour MACD line, the BTC price may last with upward feelings exceeding 106 thousand dollars.
From a landmark, the BTC price has not been a solid reflection pattern after it was trapped in a hanging channel in the past few weeks. As a result, a possible closure lower than the support level is about $ 103,329 will lead to a correction towards the support level of about $ 101,570.
