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Bitcoin Stabilizes At $104,000 Mid-Range As Market Eyes Next Breakout
Bitcoin saw a sharp price dip on Thursday amidst a public fallout between US President Donald Trump and the world’s richest man Elon Musk. The premier cryptocurrency, which had traded steadily within the $104,000–$106,000 range throughout the week, plunged to below $101,000 as tensions escalated between the two influential figures who attacked each other via their personally owned social media platforms i.e. X (formerly Twitter) and Truth Social. Since then, Bitcoin has shown some market resilience climbing back to around $104,000. With another consolidation developing, market analyst Crypto Daan has highlighted the price levels that are critical to the next price breakout. Related Reading: Bitcoin Sees Largest Net Taker Volume Drop Of 2025 – Traders React To Trump-Elon Clash Beyond $106K Or Below $100K – What’s Next For Bitcoin? The month of May proved largely bullish for Bitcoin as the digital asset surged from around $95,000 to establish a new all-time high near $112,000 marking the resumption of the larger crypto bull market. However, Bitcoin has noted a significant price correction since reaching this peak with market prices pegged around $104,000 on May 31. As seen in the first week of June, Bitcoin had hovered around $106,000 before its most recent price slump on Thursday. Due to this price action, Daan Crypto notes the digital asset is now trading within a price range of $100,000-$106,000, where it comfortably sits at the mid-range around $104,000. The analyst notes that if Bitcoin returns break below the lower range boundary at $100,000, the ongoing price correction could extend for 1-2 weeks. Going by BTC’s stairwell ascent in the past month, potential market support in such a bearish case would lie around $95,000 and $85,000. On the other hand, if the market bulls can force a return above the monthly high of $106,000, Daan Crypto explains that such development would indicate the market correction is over, and Bitcoin may be headed for another price discovery with potential initial targets of around $120,000. Related Reading: XRP Wave Structure Predicts Wild Fluctuations On Its Way To $4 ATH BTC Price Overview At the time of writing, Bitcoin trades at $104,650 following a price gain of 2.98% in the past day. Using larger time frames , the premier cryptocurrency is up by 1.12% on its weekly chart and 7.49% on the monthly chart indicating a strong bullish control of the market. Interestingly, the Relative Strength Index on the daily chart stands at 51.53 facing upward which supports the notion that Bitcoin’s correction might be over with price eyeing a return to the overbought zone above 70. With a market cap of $2.07 trillion, Bitcoin continues to rank as the world’s largest cryptocurrency and fifth largest asset in the world. Featured image from Pexels, chart from Tradingview
Chainlink Bullish Signal Stands Firm, But Bitcoin Is Calling The Shots
CRYPTOWZRD noted in a recent update on X that Chainlink ended the session with a bullish close, hinting at potential further gains ahead. However, the analyst emphasized that Bitcoin will ultimately dictate the move. Keeping a close eye on the intraday chart, the expert mentioned that an early pullback could present a scalp opportunity, as long as Bitcoin aligns with the bullish outlook. Breakout Likely With Strong Daily Candles Breaking down his latest analysis, the trader explained that LINK’s daily candle officially closed bullish, marking a key technical point in the current trend. Meanwhile, LINKBTC ended the session on a positive note, which adds weight to the bullish outlook for LINK in the short term. Related Reading: Chainlink Struggles At Key Resistance Level – $10 Support Back In Focus However, the analyst emphasized that more bullish daily closes on LINKBTC are needed to confirm momentum. A continuation of strength could lead to an impulsive breakout above the daily candle’s lower high trendline, igniting the next leg upward. A decisive move above the 0.000140 BTC resistance zone is expected to accelerate price action for LINK, giving bulls a clear signal to push higher. If momentum continues to build, LINK could rally toward the $16 resistance level, marking a major target for the current setup. For now, $12.50 remains a key support level on the daily timeframe and will act as a cushion if bearish pressure reemerges. Looking ahead, the analyst pointed out that Bitcoin and Bitcoin Dominance will remain the primary market drivers for Chainlink heading into the weekend. While maintaining a rational outlook, CRYPTOWZRD plans to monitor LINK’s intraday chart closely for any developing setups. Awaiting Chainlink Next Trade Setup In conclusion, CRYPTOWZRD emphasized that LINK’s intraday chart is showing signs of a bullish recovery, closely aligned with Bitcoin’s recent rebound. He expressed optimism that further upside is likely if current conditions persist, particularly if Bitcoin maintains its strength. Related Reading: Chainlink Holds Strong At $15.29 Support – Is A New Breakout Imminent? Despite the encouraging signs, CRYPTOWZRD noted that a temporary bearish pullback would be both natural and healthy within the current market context. Pullbacks often reset market conditions, providing better structure for stronger continuation patterns. He believes such a retracement could offer a favorable early entry point for long positions, especially for short-term or intraday traders looking to capitalize on the volatility. As the market continues to evolve, CRYPTOWZRD advises traders to wait for clear confirmation of the next trade setup before taking action. His statement emphasized that strategic patience will be key in identifying the most rewarding opportunities. For now, traders should track price behavior closely and prepare to act swiftly when the next valid entry signal presents itself. Featured image from Adobe Stock, chart from Tradingview.com
Bitcoin Stabilizes At $104,000 Mid-Range As Market Eyes Next Breakout
Bitcoin saw a sharp price dip on Thursday amidst a public fallout between US President Donald Trump and the world’s richest man Elon Musk. The premier cryptocurrency, which had traded steadily within the $104,000–$106,000 range throughout the week, plunged to below $101,000 as tensions escalated between the two influential figures who attacked each other via their personally owned social media platforms i.e. X (formerly Twitter) and Truth Social. Since then, Bitcoin has shown some market resilience climbing back to around $104,000. With another consolidation developing, market analyst Crypto Daan has highlighted the price levels that are critical to the next price breakout. Related Reading: Bitcoin Sees Largest Net Taker Volume Drop Of 2025 – Traders React To Trump-Elon Clash Beyond $106K Or Below $100K – What’s Next For Bitcoin? The month of May proved largely bullish for Bitcoin as the digital asset surged from around $95,000 to establish a new all-time high near $112,000 marking the resumption of the larger crypto bull market. However, Bitcoin has noted a significant price correction since reaching this peak with market prices pegged around $104,000 on May 31. As seen in the first week of June, Bitcoin had hovered around $106,000 before its most recent price slump on Thursday. Due to this price action, Daan Crypto notes the digital asset is now trading within a price range of $100,000-$106,000, where it comfortably sits at the mid-range around $104,000. The analyst notes that if Bitcoin returns break below the lower range boundary at $100,000, the ongoing price correction could extend for 1-2 weeks. Going by BTC’s stairwell ascent in the past month, potential market support in such a bearish case would lie around $95,000 and $85,000. On the other hand, if the market bulls can force a return above the monthly high of $106,000, Daan Crypto explains that such development would indicate the market correction is over, and Bitcoin may be headed for another price discovery with potential initial targets of around $120,000. Related Reading: XRP Wave Structure Predicts Wild Fluctuations On Its Way To $4 ATH BTC Price Overview At the time of writing, Bitcoin trades at $104,650 following a price gain of 2.98% in the past day. Using larger time frames , the premier cryptocurrency is up by 1.12% on its weekly chart and 7.49% on the monthly chart indicating a strong bullish control of the market. Interestingly, the Relative Strength Index on the daily chart stands at 51.53 facing upward which supports the notion that Bitcoin’s correction might be over with price eyeing a return to the overbought zone above 70. With a market cap of $2.07 trillion, Bitcoin continues to rank as the world’s largest cryptocurrency and fifth largest asset in the world. Featured image from Pexels, chart from Tradingview
Chainlink Bullish Signal Stands Firm, But Bitcoin Is Calling The Shots
CRYPTOWZRD noted in a recent update on X that Chainlink ended the session with a bullish close, hinting at potential further gains ahead. However, the analyst emphasized that Bitcoin will ultimately dictate the move. Keeping a close eye on the intraday chart, the expert mentioned that an early pullback could present a scalp opportunity, as long as Bitcoin aligns with the bullish outlook. Breakout Likely With Strong Daily Candles Breaking down his latest analysis, the trader explained that LINK’s daily candle officially closed bullish, marking a key technical point in the current trend. Meanwhile, LINKBTC ended the session on a positive note, which adds weight to the bullish outlook for LINK in the short term. Related Reading: Chainlink Struggles At Key Resistance Level – $10 Support Back In Focus However, the analyst emphasized that more bullish daily closes on LINKBTC are needed to confirm momentum. A continuation of strength could lead to an impulsive breakout above the daily candle’s lower high trendline, igniting the next leg upward. A decisive move above the 0.000140 BTC resistance zone is expected to accelerate price action for LINK, giving bulls a clear signal to push higher. If momentum continues to build, LINK could rally toward the $16 resistance level, marking a major target for the current setup. For now, $12.50 remains a key support level on the daily timeframe and will act as a cushion if bearish pressure reemerges. Looking ahead, the analyst pointed out that Bitcoin and Bitcoin Dominance will remain the primary market drivers for Chainlink heading into the weekend. While maintaining a rational outlook, CRYPTOWZRD plans to monitor LINK’s intraday chart closely for any developing setups. Awaiting Chainlink Next Trade Setup In conclusion, CRYPTOWZRD emphasized that LINK’s intraday chart is showing signs of a bullish recovery, closely aligned with Bitcoin’s recent rebound. He expressed optimism that further upside is likely if current conditions persist, particularly if Bitcoin maintains its strength. Related Reading: Chainlink Holds Strong At $15.29 Support – Is A New Breakout Imminent? Despite the encouraging signs, CRYPTOWZRD noted that a temporary bearish pullback would be both natural and healthy within the current market context. Pullbacks often reset market conditions, providing better structure for stronger continuation patterns. He believes such a retracement could offer a favorable early entry point for long positions, especially for short-term or intraday traders looking to capitalize on the volatility. As the market continues to evolve, CRYPTOWZRD advises traders to wait for clear confirmation of the next trade setup before taking action. His statement emphasized that strategic patience will be key in identifying the most rewarding opportunities. For now, traders should track price behavior closely and prepare to act swiftly when the next valid entry signal presents itself. Featured image from Adobe Stock, chart from Tradingview.com