Bitcoin (BTC) trades around 105,238 USD, with resistance at 106,265 USD and support at 105,000 USD. Investors are cautious as MVRV bands indicate an overheated market, suggesting profit-taking could occur. Long-Term Holders are less likely to sell, while Short-Term Holders could pressure prices.
June is pivotal for Bitcoin’s price trajectory. A breach below 105,000 USD may result in a downturn toward 102,734 USD, revealing a bearish trend. In contrast, breaking above 106,265 USD could provide bullish momentum for the upcoming days.
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