- \n
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Bitcoin is working on completing a \u201csuccessful\u201d support retest as trader bets increase prior to the weekly candle close.<\/p>\n<\/li>\n
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BTC price volatility is expected as liquidity analysis shows that conditions favor a significant short squeeze.<\/p>\n<\/li>\n
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$100,000 still remains a likely target in the event of a fresh price dip.<\/p>\n<\/li>\n<\/ul>\n
Bitcoin\u00a0held $105,500 toward the June 8 weekly close amid hopes that the BTC price correction was over.<\/p>\n
BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/figcaption><\/figure>\n Bitcoin liquidation risk rises as price coils at $105,000<\/h2>\n
Data from\u00a0Cointelegraph Markets Pro\u00a0and\u00a0TradingView\u00a0showed BTC\/USD cementing its rebound after a\u00a0trip to $100,500\u00a0on June 5.<\/p>\n
Now almost back at its weekly open level, Bitcoin again inspired traders to bet on upside continuation and resumption of the bull run.<\/p>\n
\u201cOn the Daily timeframe, Bitcoin is showcasing signs of breaking its two-week Downtrend (light blue) while also turning it into support earlier today,\u201d popular trader and analyst Rekt Capital\u00a0told\u00a0X followers while uploading a chart with key levels.<\/p>\n
\u201cDaily Closing & retesting ~$106600 (black) would be even better to enable trend continuation.\u201d<\/p><\/blockquote>\n
BTC\/USD 1-day chart. Source: Rekt Capital\/X<\/p>\n <\/em><\/figcaption><\/figure>\n
BTC price action had already achieved a daily close above its 10-day simple moving average (SMA) \u2014 something that fellow trader SuperBro had said was a prerequisite to \u201cinvalidate the bear case.\u201d<\/p>\n
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$BTC\u00a0still needs to reclaim the 10 MA and H&S neckline on a closing basis to invalidate the bear case<\/p>\n
until then, this is not the place to get aggressive with longs, the time for that was the retest of the FVG and 50 MA, when you were so sure it was all over \ud83d\ude02\u00a0pic.twitter.com\/TAEG3wZgOM<\/p>\n
\u2014 Super\u0e3fro (@SuperBitcoinBro)\u00a0June 7, 2025<\/p><\/blockquote>\n
Trader Cas Abbe meanwhile looked to order book liquidity for cues over price direction.\u00a0<\/p>\n
This was building both above and below spot price, leading Abbe to predict a magnet-style move to \u201cgrab\u201d it.<\/p>\n
\u201cBTC liquidation cluster is now signalling an upside move,\u201d he\u00a0summarized\u00a0on X.\u00a0<\/p>\n
\u201cIf BTC pumps 10% from here, $15.11 billion in shorts will get liquidated. Meanwhile a 10% downside move will liquidate $9.58 billion in longs.\u201d<\/p><\/blockquote>\n
Bitcoin exchange liquidation heatmap. Source: Cas Abbe\/X<\/em><\/figcaption><\/figure>\n Abbe noted that negative funding rates pointed to \u201cbig short positions\u201d appearing over the weekend.<\/p>\n
\u201cI think BTC big move is coming next week, possibly pushing it above $109K-$110K,\u201d he concluded.<\/p>\n
$104,400 now key weekly close level<\/h2>\n
Some saw the potential for further support retests first.<\/p>\n
Related:\u00a0<\/strong><\/em>Bitcoin nears $105K as Donald Trump demands ‘full point’ Fed rate cut<\/strong><\/em><\/p>\n
Updating X followers on his market forecast, popular trader CrypNuevo\u00a0saw\u00a0the logical place to build long BTC positions at $100,000.<\/p>\n
\u201c100k is the strongest psychological support so, as explained on Sunday, it’s the area where I’m building some longs with easy invalidation below it,\u201d he wrote, referring to his previous aim of\u00a0tagging the $100,000 mark.<\/p>\n
BTC\/USDT 1-day chart. Source: Cas Abbe\/X<\/em><\/figcaption><\/figure>\n Rekt Capital meanwhile described the support retest after May\u2019s all-time highs on weekly timeframes as \u201csuccessful.\u201d<\/p>\n
\u201cCan Bitcoin successfully confirm this retest with a Weekly Close above $104400 for what would be a 4th week in a row?\u201d he queried.<\/p>\n
BTC\/USD 1-week chart. Source: Rekt Capital\/X<\/em><\/figcaption><\/figure>\n *********************************<\/p>\n
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