Gold Breaks Resistance; Eyes $3,445 as Bullish Channel Holds Firm

Traders' Opinions

Summary:

Gold prices climbed over 2.5% on Monday, trading above $3,350, as investors flocked to safe-haven assets amid renewed US-China trade tensions and a weakening US Dollar.

BUY XAUUSD

Close Time

CLOSED

3365.75

Entry Price

3445.00

3300.00

4341.12 +41.73 +0.97%

97.5

Pips

Profit

3300.00

3375.50

Exit Price

3365.75

Entry Price

3445.00

Gold prices rallied sharply on Monday, surging more than 2.5% intraday to reclaim territory above $3,350 per ounce, as market sentiment tilted toward caution following a sharp escalation in trade tensions between the United States and China. Investors, spooked by renewed threats of tariffs and retaliatory measures, sought refuge in the traditional safety of precious metals, pushing gold to its highest levels in weeks.

At the core of the shift in investor appetite lies a fresh wave of geopolitical friction. Former U.S. President Donald Trump ignited market jitters late last week after vowing to double tariffs on steel and aluminium imports, raising the rate from 25% to 50%. The move, presented as a response to what he alleged was a flagrant breach of a key trade agreement by Beijing, sent shockwaves through global markets already grappling with interest rate uncertainty and weakening macroeconomic indicators.

In a Truth Social post on Friday, Trump accused China of "totally violating" the Geneva trade pact signed earlier this year. The now-endangered agreement had momentarily calmed markets by establishing a 90-day truce on tariff escalations. It included reciprocal concessions, such as the US slashing tariffs on Chinese goods from a punitive 145% to 30%, and China paring down its own levies from 125% to just 10%. Perhaps more critically, the accord compelled Beijing to lift restrictions on the export of strategic minerals — materials pivotal to US tech and defence sectors.

But that fragile détente has rapidly deteriorated. China’s Ministry of Commerce responded over the weekend with a blistering statement, rejecting Trump’s claims as "groundless" and accusing Washington of escalating tensions through unilateral and discriminatory actions. These, the Ministry said, included sweeping export controls on advanced AI semiconductors, a sales ban on chip design software, and even the revocation of Chinese student visas in high-tech fields. In a clear warning, Beijing pledged to take "resolute and forceful measures" if provoked further.

This breakdown in diplomacy, coupled with a sudden deterioration in US-China relations, has sent global equities wobbling and ignited renewed demand for gold. The yellow metal, which thrives during times of uncertainty, has reasserted itself as the safe-haven asset of choice, with investors looking to hedge against both geopolitical turmoil and a softening dollar.

Compounding gold’s upward momentum is the concurrent weakness in the US Dollar. The greenback came under broad-based pressure as the market weighed the likelihood that an escalation in the trade war could ultimately crimp US economic growth and delay any hawkish pivot from the Federal Reserve. The resulting downturn in yields and the dollar’s diminished appeal has further opened the runway for gold to climb.

From a technical perspective, the structure in gold remains bullish. Price action is carving out a clear upward trajectory within an ascending channel, defined by dynamic support (yellow trendline) and resistance (black trendline). The metal recently broke above a notable swing high, a move often interpreted as a bullish breakout signal.

Technical Analysis

A detailed chart analysis suggests the breakout is not merely a short-term reaction, but a continuation of a broader bullish structure. Following the break above $3,350, a minor retracement toward the breakout zone in the $3,366–$3,347 region is plausible. Should this zone hold, it would likely act as a springboard for the next leg higher, targeting a medium-term resistance range of $3,434 to $3,445.

The breakout is also being confirmed by rising momentum indicators and increasing volume, adding credibility to the case for a sustained uptrend. If macroeconomic uncertainty persists — particularly around the trajectory of US-China relations or the Fed’s next move — gold may find itself well-supported for the foreseeable future.

TRADE RECOMMENDATION

BUY GOLD

ENTRY PRICE: 3366

STOP LOSS: 3300

TAKE PROFIT: 3445

Risk Warnings and Disclaimers

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Warren Takunda

Economic

Summary:

The euro appreciated against the dollar on Monday, with EUR/USD recovering to 1.1370 amid investor angst over President Trump’s unexpected plan to double steel and aluminum tariffs.

BUY EURUSD

Close Time

CLOSED

1.14397

Entry Price

1.17000

1.13100

1.17330 -0.00064 -0.05%

161.4

Pips

Profit

1.13100

1.16011

Exit Price

1.14397

Entry Price

1.17000

The euro staged a sharp rebound in early Asian trading Monday, with EUR/USD climbing to 1.1370 after a bruising week, as investors digested a wave of headlines that threaten to drag U.S. trade diplomacy and legal authority into deeper uncertainty. The catalyst: President Donald Trump’s declaration that the U.S. will double tariffs on imported steel and aluminum, raising them from 25% to 50%, in a bid to fortify the domestic steel sector and send a clear signal to foreign producers—particularly those in Europe and China.

Speaking at a campaign-style rally in Pennsylvania on Friday, Trump said, “We are going to bring it from 25% to 50% — the tariffs on steel into the United States of America — which will even further secure the steel industry in the United States,” according to Reuters. The announcement was made against a backdrop of mounting legal scrutiny over the administration’s prior tariff moves and has led to renewed fears of a transatlantic trade war.

The market’s reaction was swift and pointed. The U.S. dollar came under significant pressure, weighed by both protectionist overhang and Thursday’s ruling by the U.S. Court of International Trade in Manhattan, which found that Trump had exceeded his authority in previous tariff measures. A three-judge panel stated that the executive orders issued on April 2 were unlawful—potentially undermining the legal foundation of future tariff escalations.

In response, the European Commission issued a stern warning on Saturday, vowing swift retaliation should the U.S. move forward with the new levies. Brussels has already been navigating a fragile truce with Washington, after agreeing to expedite trade negotiations in June, hoping to avoid a tariff showdown. But that ceasefire now appears to be fraying.

“Europe is ready to respond proportionately,” said an EC spokesperson, without detailing what form the retaliation might take. Analysts, however, believe agricultural and technology products from the U.S. could be targeted, reviving the specter of a tit-for-tat tariff cycle that markets had hoped was behind them.

The combination of Trump's confrontational stance and legal rebukes has shaken investor confidence in the dollar, which had previously drawn support from strong economic data and a “higher for longer” Federal Reserve outlook. Now, with trade risk resurging and legal uncertainty clouding the White House’s economic authority, the greenback is vulnerable to sentiment-driven swings.

Compounding the dollar’s weakness, the Federal Reserve remains constrained by persistent inflationary pressures and sluggish consumer spending, making it difficult to respond to external shocks without risking policy credibility.

On the European side, the euro found additional support from measured optimism within the ECB, despite mixed inflation signals. Governing Council member Klaas Knot acknowledged the “murky” inflation outlook but maintained that the ECB will proceed cautiously. Meanwhile, François Villeroy de Galhau added that “policy normalization in the Euro area is probably not complete,” suggesting room for further rate action should inflation persist or economic stability demand it.

These remarks have subtly shifted rate expectations in the eurozone's favor, especially when juxtaposed against a politically hamstrung U.S. policy backdrop.

Technical Analysis

From a technical standpoint, EUR/USD has reclaimed lost ground, breaking above Resistance 1 at 1.1425, signaling a continuation of the bullish leg within the short-term upward channel. The 4-hour RSI and moving average patterns mirror previous upward cycles, which saw gains of around +2.58% before retracements.

Given this structure, 1.1700 emerges as a realistic short-term target, assuming follow-through momentum and no further risk-off shocks. However, the 1.1450–1.1500 area could offer intermediate resistance, especially if U.S. economic data surprises to the upside or if the EU’s retaliatory rhetoric escalates into formal policy action.

TRADE RECOMMENDATION

BUY EURUSD

ENTRY PRICE: 1.4400

STOP LOSS: 1.1310

TAKE PROFIT: 1.1700

Risk Warnings and Disclaimers

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Warren Takunda

Economic

Summary:

The Swiss Franc advanced for a third consecutive session on Monday, with USD/CHF slipping nearly 0.70% as markets digested stronger-than-expected Q1 GDP data from Switzerland and a mild miss in retail sales.

SELL USDCHF

Close Time

CLOSED

0.81800

Entry Price

0.80000

0.83000

0.79627 +0.00045 +0.06%

55.1

Pips

Profit

0.80000

0.81249

Exit Price

0.81800

Entry Price

0.83000

The Swiss Franc opened the new trading week on a strong footing, continuing its upward march against the US Dollar amid a cocktail of solid domestic economic data and a broader pullback in the greenback. During the European session, USD/CHF slid to its lowest level in over five weeks, trading around 0.8178 and marking an intraday decline of nearly 0.70%. The move highlights the Franc’s renewed strength, buoyed by safe-haven flows and a Swiss economy that is showing signs of quiet resilience.

At the center of Monday’s market reaction was Switzerland’s first-quarter Gross Domestic Product report, which exceeded analysts’ expectations. The Swiss economy expanded by 0.5% on a quarter-over-quarter basis, accelerating from a revised 0.3% in the fourth quarter and surpassing consensus forecasts for a 0.4% increase. On an annualized basis, GDP rose by 2.0%, also beating the forecasted 1.5% gain and climbing from 1.6% previously.

According to the State Secretariat for Economic Affairs (SECO), the upside surprise in growth was driven largely by a sharp increase in exports. In particular, Swiss companies ramped up shipments to the United States in anticipation of looming trade policy shifts, a dynamic that contributed significantly to headline performance. “Exports to the US rose sharply, pointing to possible front-loading in connection with US trade policy,” SECO said in its commentary, underlining the influence of geopolitical uncertainties on trade flows.

Sectoral breakdowns revealed further strength beneath the surface. Manufacturing activity posted a robust 2.1% gain in the first quarter, up from 1.2% in the prior period, while the construction industry bounced back with a 1.1% increase after a stagnant quarter. Retail trade and motor vehicle repairs also surged, growing by 2.1% compared to just 0.3% in Q4 — evidence of a broad-based uptick in activity across core segments of the Swiss economy.

However, not all data points were positive. April’s Retail Sales figures came in softer than expected, rising just 1.3% year-on-year, down from 2.2% in March and falling short of the anticipated 2.5% increase. The weaker-than-forecast retail performance hints at a cautious consumer sector, despite improvements elsewhere. The slowdown in consumption could reflect a growing reluctance among households to spend amid still-elevated uncertainty in the global economic outlook.

That said, the broader trend remains in the Franc’s favor. Switzerland’s combination of low inflation, stable institutions, and current account surpluses makes the CHF a perennial favorite during times of global unease. With geopolitical tension, monetary policy divergence, and softening US data weighing on risk appetite, demand for the Franc as a safe-haven asset remains firm.

Markets now turn their attention to upcoming events that could shape USD sentiment. The US ISM Manufacturing Purchasing Managers Index (PMI) and a speech from Federal Reserve Chair Jerome Powell are due later Monday and could provide crucial insights into the Fed’s current thinking amid sticky inflation and moderating growth. A dovish tone from Powell or weaker-than-expected manufacturing data could add to the Dollar’s woes and reinforce the downtrend in USD/CHF.

On the domestic front, Swiss Consumer Price Index (CPI) data for May is scheduled for release on Tuesday and could influence expectations around the Swiss National Bank’s (SNB) policy trajectory. Inflation in Switzerland has remained tame relative to global peers, allowing the SNB to take a more measured stance. Nevertheless, any upside surprise could lead markets to reassess the likelihood of further tightening or delay in rate cuts, potentially adding another tailwind for the Franc.

Technical Analysis

Technically, the USD/CHF currency pair is exhibiting signs of a deeper bearish shift. Price action is carving out a head-and-shoulders pattern, with Monday’s break below the neckline support at 0.8200 confirming a bearish continuation signal. The pair now faces the prospect of further losses, with 0.8000 emerging as the next key downside target. This psychological level coincides with broader Fibonacci retracement zones and is likely to attract significant attention from technical traders. A sustained move below the neckline could pave the way for deeper declines in the sessions ahead, particularly if the US Dollar remains under pressure.

TRADE RECOMMENDATION

SELL USDCHF

ENTRY PRICE: 0.8180

STOP LOSS: 0.8300

TAKE PROFIT: 0.8000

Risk Warnings and Disclaimers

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Eva Chen

Economic

Stocks

Summary:

Despite a robust rally in May, investors are concerned that the upward momentum in U.S. stocks may be nearing its end. Historically, May has been one of the weakest months for equity returns.

SELL US30

Close Time

CLOSED

42141.92

Entry Price

41000.00

42900.00

48686.44 +114.54 +0.24%

7580.8

Pips

Loss

41000.00

42900.97

Exit Price

42141.92

Entry Price

42900.00

Fundamentals

Last Friday, the U.S. stock market overcame its initial sluggishness at the open, with major indices experiencing a modest recovery. The market closed with mixed results, essentially flat overall.

The Dow Jones Industrial Average (DJIA) closed up 54.34 points, or 0.13%, at 42,270 points. The Nasdaq Composite Index closed down 62.11 points, or 0.32%, at 19,113 points. And the S&P 500 Index closed down 0.48 points, or 0.01%, at 5,911 points.

On the economic front, a closely watched report released by the U.S. Department of Commerce last Friday revealed that consumer spending in the United States, which had seen its strongest month since early 2023, began to slow in April. Meanwhile, inflation remained benign, aligning with the trend of economic deceleration. The annual rate of the core Personal Consumption Expenditures (PCE) price index in April was recorded at 2.5%, marking the smallest year-over-year increase in over four years.

These figures highlight the underlying anxiety among many U.S. consumers following the weakest consumer quarter in nearly two years. Although higher tariffs on imported goods have not yet been broadly reflected in rising consumer prices, consumer sentiment has plummeted, and personal financial outlooks have reached historical lows.

However, the report also indicates that U.S. consumers remain resilient. The Federal Reserve may view the current mild inflation in personal consumption expenditures as a "calm before the storm," and will likely continue to wait for further economic developments. Unless there is a significant contraction in consumer spending coupled with a rapid increase in unemployment, the Fed is unlikely to cut interest rates easily.

Will the Bull Run in May Lead to a Market Banquet's End?_1

Technical Analysis

On Monday, the U.S. stock market faced some bearish pressure. However, as the indices remained within a three-day trading range, the market can be described as being in a consolidation phase, with no clear consensus on the next directional move.

Additionally, President Trump's threat over the weekend to double tariffs on European steel and aluminum imports has raised concerns about the potential escalation of trade frictions. Should the market begin to decline, the current stalemate could be broken.

The Dow Jones Industrial Average is currently consolidating near its 200-day moving average. While the fundamental outlook for the market is mixed, from a technical standpoint, it appears that the market is approaching a resistance level and is awaiting a pullback. If the index moves lower, support could be found near the 40,000-point level.

On the upside, a breakout above the MA200, followed by a close above this level with strengthened bullish momentum, would confirm the continuation of the upward trend. The short-term trading range is currently between 42,660 and 41,300 points.

Trading Recommendations

Trading Direction: Sell

Entry Price: 42240

Target Price: 41000

Stop Loss: 42900

Deadline: June 18, 2025, 23:55:00

Support: 41861/41500/41331

Resistance: 42371/42475/42718

Risk Warnings and Disclaimers

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Alan

Stocks

Summary:

The latest U.S. PCE data, while offering a temporary respite from inflation concerns, is overshadowed by policy risks and valuation bubbles, which are the primary drivers of the Nasdaq's downward trajectory.

SELL IXIC

Close Time

CLOSED

19113.76

Entry Price

17700.00

19500.00

23195.16 -398.70 -1.69%

3862.4

Pips

Loss

17700.00

19518.20

Exit Price

19113.76

Entry Price

19500.00

Fundamentals

Recently, the latest U.S. PCE inflation data showed a 0.1% increase month-over-month, with the year-over-year growth rate decreasing from 2.3% to 2.1%. Core PCE inflation also declined from 2.6% to 2.5%. While this theoretically paves the way for a Federal Reserve rate cut, policy and structural risks are strongly offsetting the potential support for the Nasdaq from anticipated rate cuts, creating a confluence of negative factors.

Firstly, weakened sovereign credit is increasing capital costs. Moody's has downgraded the U.S. credit rating from AAA to Aa1 (all three major agencies have downgraded), directly increasing Treasury yields and corporate financing costs, leading to a "double whammy" effect on high-valuation tech stocks—simultaneous compression of valuations and downward revision of earnings expectations.

Secondly, tariff disputes are eroding the foundation of profitability. The Trump administration's plan to raise steel tariffs from 25% to 50% on June 4th will sharply increase costs for the tech manufacturing sector (e.g., a 15%-20% increase in server/data center hardware costs). This, coupled with legal uncertainties arising from the U.S. Court of International Trade's ruling that tariff policies are unconstitutional, means that companies' long-term earnings models are facing restructuring.

Thirdly, short selling siphons off liquidity. Hedge funds hold US$1.1 trillion in short positions on the Nasdaq, and ETF short selling reached US$218 billion (a peak since 2021), forming a "passive selling pressure spiral." The Nasdaq 100's valuation bubble, with a P/E ratio as high as 30x, significantly exceeds the historical average of 20x, sharply amplifying the market's sensitivity to negative news.

Overall, although PCE data temporarily eased inflation concerns, policy risks and valuation bubbles constitute the dominant logic behind the Nasdaq's decline.

Technical Analysis

The Market May Revert to a Downtrend due to Significant Upward Pressure_1

In the 1D timeframe, the Nasdaq Composite Index has rebounded to below the significant resistance level formed by the 19,100-20,200 range following a prior sharp decline. This zone also represents a historical area of trapped investors, suggesting potential short-term upward pressure on the index. Concurrently, the recent sustained rally has led to an accumulation of profit-taking, which may exert downward pressure on the index.

From a candlestick perspective, the Nasdaq Composite Index has left three unfilled gaps during its recent rebound, reinforcing the downward momentum due to the need to fill these gaps.

Trading Recommendations

Trade Direction: Sell

Entry Price: 19120

Target Price: 17700

Stop Loss: 19500

Valid Until: June 16, 2025 23:00:00

Support: 18281, 17503

Resistance: 19389, 20200

Risk Warnings and Disclaimers

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Manuel

Cryptocurrency

Summary:

Ethereum has been repeatedly rejected to the upside from this area, suggesting that buyers are stepping in, potentially setting the stage for an upward movement.

BUY ETH-USDT

Close Time

CLOSED

2542.51

Entry Price

2680.00

2450.00

3129.85 +45.29 +1.47%

378.9

Pips

Profit

2450.00

2580.40

Exit Price

2542.51

Entry Price

2680.00

The recent price surge in Ethereum appears to be driven by strong institutional participation in the futures markets. This suggests that, despite a lack of significant growth in everyday network usage, there has been renewed speculative or investment interest from financial players.

For Ethereum, this development represents a double-edged sword: on one hand, it attracts institutional capital, which is crucial for the asset's long-term credibility; on the other, it doesn’t necessarily translate into greater adoption or utility for the broader public.

Ethereum’s blockchain network continues to face challenges in expanding its daily usage, despite having implemented substantial technical upgrades. A recent report by investment bank JPMorgan, covered by CoinDesk, casts doubt on the real-world impact of recent updates such as Dencun and Pectra on network adoption and transaction volumes.

The analysis, led by strategist Nikolaos Panigirtzoglou, highlights that neither the daily transaction count nor the number of active addresses has shown meaningful growth following the introduction of these improvements. While Ethereum remains the leading platform for smart contracts, the lack of an uptick in activity raises questions about the effectiveness of these updates in attracting real users.

Ethereum rolled out the Dencun update in March 2024, followed by the Pectra upgrade on May 7. These updates are part of Ethereum's broader roadmap to build a more efficient ecosystem by reducing costs, optimizing the user experience, and enhancing staking and wallet functionalities.

Specifically, Pectra aims to simplify staking participation and make wallet usage more user-friendly, while also enhancing network efficiency. JPMorgan emphasizes that these enhancements make Ethereum and its native token ETH more appealing to financial institutions, particularly when compared to competing networks.

At the same time, REX Shares and Osprey Funds have filed with the U.S. Securities and Exchange Commission (SEC) to launch the first exchange-traded funds (ETFs) that combine direct exposure to cryptocurrencies with staking mechanisms.

According to published reports, both funds will focus on Ethereum (ETH) and Solana (SOL) and will include the distribution of staking rewards to their investors.

This marks a significant step for the sector, which has faced regulatory hurdles in offering staking within traditional investment products. The N-1A filing with the SEC reveals that the funds will invest “at least 80% of their net assets” in their respective underlying cryptocurrencies. Furthermore, at least 50% of these holdings will be used for staking—an activity in which funds are locked into proof-of-stake (PoS) networks in exchange for economic returns.

Unlike previously approved ETFs that operate as “regulated investment companies,” these new products will register as C-corporations for tax purposes. This decision enables them to distribute staking earnings as dividends, subject to traditional tax rates, without relying on more difficult-to-obtain regulatory exemptions. Support Could Trigger Renewed Bullish Momentum_1

Support Could Trigger Renewed Bullish Momentum_1

Technical Analysis

ETH has recently retraced to a local low of 2,475, a price point that seems to be forming a strong support zone. Ethereum has been repeatedly rejected to the upside from this area, suggesting that buyers are stepping in, potentially setting the stage for an upward movement. The next target lies at the resistance level around 2,688. A solid break above this level could trigger an extension towards 2,800, where the upper boundary of the channel lies.

The RSI recently reached a local low of 27.26, a level not seen since May 25. Back then, Ethereum rallied significantly, nearly reaching 2,800. If a similar rejection occurs at this price point, it could accelerate bullish sentiment, particularly from buyers looking to capitalize on lower prices.

Additionally, the 100-period and 200-period moving averages sit at 2,620 and 2,586, respectively. A close above these moving averages could trigger a swift continuation of the bullish momentum, confirming the strength of the upward trend.

Trading Recommendations

Trading direction: Buy

Entry price: 2542

Target price: 2680

Stop loss: 2450

Validity: Jun 10, 2025 15:00:00

Risk Warnings and Disclaimers

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Manuel

Cryptocurrency

Summary:

This area may provide an additional layer of technical support. If Bitcoin holds above this level, it could open the door for a continued bullish move.

BUY BTC-USDT

Close Time

CLOSED

104690.0

Entry Price

110400.0

101200.0

89620.3 +592.6 +0.67%

393.1

Pips

Profit

101200.0

105083.1

Exit Price

104690.0

Entry Price

110400.0

Trump Media & Technology Group, the media company affiliated with former President Donald Trump, has officially closed its previously announced private funding round with the goal of establishing a corporate treasury held in Bitcoin.

The fundraising involved the sale of 55.8 million common shares under the DJT ticker at a price of $25.72 per share, raising approximately $1.44 billion in gross proceeds. In addition, the company issued zero-coupon senior convertible notes maturing in 2028 with a conversion price of $34.72 per share, totaling $1 billion in face value. Altogether, the company secured around $2.44 billion, according to a company statement.

Meanwhile, Coinbase—one of the most prominent cryptocurrency exchanges globally—is making a notable move to attract institutional investors to the digital asset space.

Coinbase Asset Management, the division focused on delivering tailored investment strategies for institutions, has introduced a new vehicle designed to generate yield on Bitcoin holdings. The fund, called the Coinbase Bitcoin Yield Fund, aims to offer institutional players annualized returns between 4% and 8%, with redemptions made directly in Bitcoin.

"Unlike traditional financial assets or digital assets with native staking mechanisms like Ethereum and Solana, Bitcoin doesn’t inherently generate yield. Bitcoin yield funds are emerging to fill this gap," the company said in an official statement.

In parallel developments, global banking giant Santander is reportedly exploring a broader offering of digital asset services to retail clients across Europe.

According to a Bloomberg report published Thursday, the bank is assessing ways to expand its online banking operations to include access to both cryptocurrencies and stablecoins. Although the plans are still in their early stages, sources familiar with the matter told the outlet that Openbank, Santander’s digital banking arm, has already applied for licenses under the EU’s new regulatory framework, MiCA, which came fully into effect in December 2024.

Regarding stablecoins, Santander is said to be evaluating whether to integrate existing tokens or potentially launch its own stablecoin. According to the report, the bank is considering offering stablecoins denominated in both euros and U.S. dollars.

Recent market data indicates that approximately $765 million in total liquidations occurred, with the majority stemming from long positions—bets that the market would move higher. Specifically, Bitcoin saw $46 million in liquidations over the past 24 hours, most of which were long positions. BTC Eyes Upside Continuation Amid Institutional Demand_1

BTC Eyes Upside Continuation Amid Institutional Demand_1

Technical Analysis

BTCUSD has regained upward momentum after bouncing from the 103,100 level. Despite brief selling pressure, Bitcoin failed to break below this critical zone, suggesting renewed bullish interest that may support further upside. This recovery aligns with growing institutional involvement and optimism surrounding digital asset adoption.

The price is also approaching the 200-period moving average on the 4-hour chart, currently sitting around 102,780. This area may provide an additional layer of technical support. If Bitcoin holds above this level, it could open the door for a continued bullish move.

Nearby local support is found at 102,355, while the next key resistance is around 110,400. A decisive break above this resistance could reinforce the uptrend and confirm a higher high, which would preserve the bullish structure. Conversely, the lack of new local lows reflects weakening bearish momentum and strengthens the case for an upside continuation.

Trading Recommendations

Trading direction: Buy

Entry price: 104670

Target price: 110400

Stop loss: 101200

Validity: Jun 10, 2025 15:00:00

Risk Warnings and Disclaimers

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