Bitcoin Faces Bearish Correction After New All-Time High

‎BTCUSD Market Analysis – June 4

‎Bitcoin recently set a new all-time high, but a bearish correction appears to be underway as technical indicators and chart patterns suggest a potential reversal from its peak.‎

Bitcoin (BTCUSD) Key Levels

‎Support Levels: $92,700.00, $79,300.00
‎Resistance Levels: $105,500.00, $115,000.00

‎BTCUSD Long-Term Trend: Bullish

‎Bitcoin recently reached a new all-time high, but signs of a corrective phase have started to emerge. The previous major bearish trend began in late January 2025, driven by strong selling pressure that pushed the price downward until a significant low was established in early April. This marked a major turning point, as bullish momentum regained control and propelled BTC above the previous high that initiated the bearish decline.
‎
‎During this bullish breakout, the price failed to retest the previous trendline, leaving behind a key untested zone that may attract future price action. After slightly surpassing the $105,000 resistance level, Bitcoin formed a Head and Shoulders pattern—a classic reversal structure—signaling a potential shift in market sentiment.
‎
‎Technical indicators reinforce this bearish outlook. Both the daily Relative Strength Index (RSI) and Moving Averages have aligned to suggest declining momentum. As the price begins to retreat, it is expected to test the $79,300 demand level, which also coincides with the trendline it previously ignored. A successful retest of this zone may serve as a launchpad for the next bullish leg.

‎BTCUSD Medium-Term Trend: Bearish

‎On the 4-hour chart, a more granular view of price action reveals the current bearish correction in motion after rejecting the $105,500 supply zone. Following an initial breakdown below $105,000, BTC staged a minor bullish retracement, heading toward a nearby bearish order block.
‎
‎The 4-hour RSI suggests that momentum is climbing toward the overbought territory but has not yet reached it. This implies that there is room for a continued short-term push into the order block before bearish momentum fully resumes. Once the RSI confirms overbought conditions, a stronger bearish move could unfold.

Make money without lifting your fingers: Start using a world-class auto trading solution 

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.