Bitcoin started June at approximately 105,500 USD, recovering from a decline driven by profit-taking after reaching an all-time high of 112,000 USD. Despite recent bearish signals, Bitcoin managed to close May with an 11% gain, supported by earlier bullish trends.
The immediate resistance at 105,800 USD combines with the 0.618 Fibonacci retracement and the 100 EMA, presenting a significant challenge for bulls. A successful breakout above 107,000 USD could signal a bullish continuation, while failure to maintain this level may prompt a decline back toward 103,200 USD.
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