Bitcoin (BTC) Price Holds Above $105,000 — Is It Time to Buy?

Jakarta, Pintu News – Bitcoin (BTC) managed to maintain its position above the crucial $105,000 threshold with a daily gain of 1%, while bearish technical signals started to emerge that could trigger a pullback to key support levels.

Check out the full analysis here!

MicroStrategy Accumulation Strategy Changes Market Dynamics

MicroStrategy, under the leadership of Michael Saylor, continues to show its interest in Bitcoin (BTC) with the latest purchase on May 26, adding 4,020 BTC worth approximately $427 million to their coffers.

With this acquisition, their total holdings now reach 580,250 BTC, making MicroStrategy the largest institutional holder of Bitcoin (BTC) in the world. This increase has resulted in an unrealized capital gain of over $20 billion since September 2020, with a return on investment of over 50%.

However, MicroStrategy’s transparency policy has come under scrutiny for its lack of consistent proof-of-reserve audits. Michael Saylor argues that such audits could compromise security by exposing wallet addresses to malicious actors, although some critics demand concrete proof of claimed Bitcoin (BTC) holdings.

Read also: 4 US Economic Indicators This Week that Potentially Affect the Crypto Market!

BTC/USD Technical Analysis Shows Bearish Divergence

Although the overall market structure is still bullish, technical analysis shows a mixed picture. The Relative Strength Index (RSI) on the weekly time frame shows a worrying bearish divergence, signaling that buying momentum may be on the decline.

If selling pressure increases, there is potential for a price drop towards the fair value gap at $97,000 and $90,000 as retracement targets. The supportive market structure remains to provide significant downside protection.

With support at $84,000, the bull market still provides strong security. In addition, the $100,000 level is considered a strong psychological barrier, often acting as a price magnet during downturns.

Also read: Elon Musk Launches XChat with Bitcoin Encryption, High Security!

Bullish Long-term Outlook Targeting $340,000

Analysis from Plan D found a three-year cup-and-handle pattern that suggests Bitcoin (BTC) could reach $340,000 before the end of 2025, despite facing short-term volatility.

As long as Bitcoin (BTC) maintains support above the $91,000-$100,000 zone, this positive structure remains relevant. After the consolidation and breakout above $76,000 in November 2024, this pattern suggests Bitcoin’s (BTC) recovery from its previous crash high in 2021.

The recent price correction is considered a healthy pullback and not a trend reversal, signaling the beginning of a significant rally. However, this outlook is highly dependent on maintaining support above key technological thresholds.

Conclusion

Bitcoin (BTC) price movement is currently facing resistance at the 20-day exponential moving average of $105,232. If this level is not exceeded, it could trigger a decline towards the psychological support at $100,000. Technical indicators point to a period of consolidation with the RSI near the midpoint and the 20-day exponential moving average showing a flat trend.

To continue the positive trend, Bitcoin (BTC) needs to break above $111,980 to reach the next significant resistance at $130,000. Conversely, a break below $100,000 could accelerate selling towards $93,000, where stronger support is expected.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• FX Leaders. Bitcoin Consolidates Above $105k, MicroStrategy Signals Fresh Acquisition Amid Technical Divergence Warnings. Accessed on June 3, 2025
• Featured Image: Generated by AI