Main takeout:
Bitcoin prices can fall to $ 100,000- $ 104,000 before the new highest.
June 11 CPI data can cause inflation to hurt bitcoin.
BTC forms a strong cup and handle and bull flag pattern for $ 140,000.
After volatility was triggered by the Trump-Musk dismantling last week, the BTC (Bitcoin) price has established a range of $ 103,800 to $ 106,900 over the last three days.
The BTC failed to prove the clear direction bias in a day, and analysts said the price could be lowered before reaching the new all -time high.
Does CPI data supply Bitcoin’s next modification as fuel?
The US Consumer Price Index (CPI) will be read on Wednesday, and the market is afraid that Trump’s tariffs will pressure the market price.
Market analysts expect the US CPI to increase 0.3% year -on -year and 2.3% year -on -year. Core CPIs except food and energy are expected to increase 0.3% in the month and 2.9% year -on -year.
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Prints showing the increase in inflation can reduce the possibility of fed rate cuts and potentially add a headwind to the BTC price.
“Inflation data can be volatile in the next week,” said SWISSBLOCK, a private asset manager for X on June 9.
SWISSBLOCK analysts explained that Bitcoin Bull is a “short -term test of about $ 104,000” but “slowly reconstructive and reorganization.”
Analyst Mickeybull Crypto shared similar emotions and pointed out that the emergence of head and shoulder patterns on the daily chart predicts that the BTC price drop is $ 101,500. The analyst said:
“Short -term crystals, and the highest in the new history.”
As reported by COINTELEGRAPH, if you do not have $ 100,000, you can see deeper modifications as the BTC price moves to the liquidity cluster sitting below.
Bitcoin bull is still in control
Other Bitcoin analysts said that the price drop is temporary because the increase in assets is maintained in the higher time frame.
Merchant Daan Crypto Trades added to the following X on June 8:
“Overall time frame trends are still very clean.”
Traders added that Bitcoin’s price is now $ 95,000 to have a Bull Market Support Band.
In the case of technical analyst SUPERBRO, Bitcoin has the highest day deadline for four consecutive weeks since 2021, and the fact that it is not lower than the EMA in early May from early May suggests that the bull is completely controlled.
“If you break the trend line from 2021, you have to reach $ 140-150K as soon as possible.”
Bitcoin’s indicators hint the meeting for $ 1.4 million next time.
From a technical point of view, the BTC/USD pairs form a large profit by forming a cup and handle and a bull flag pattern on the weekly chart.
Bitcoin’s price action in the cup and handle scenario suggests potential escapes of more than $ 109,000 with a technical goal of $ 143,000.
Bull Flag Pattern, on the other hand, represents a potential escape for $ 143,300 as shown in the chart below.
As reported by COINTELEGRAPH, Bitcoin’s rally is plausible at $ 140,000, and is supported by basic, on chain and technical indicators.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.