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Source: TradingView & BingX
The 1-day chart for Bitcoin (BTC) against USDT, as of June 5, 2025, shows the real-time price at $104,616. The candlestick pattern over the past month reveals an uptrend peaking around May 22, followed by a correction and a period of consolidation. The chart includes two moving averages: the 9-period MA at $105,310.4 and the 5-period SMA also at $105,310.4, both trending downward in the short term, reflecting the recent decline. The price is currently below these moving averages, indicating continued downward pressure after the recent drop.
At the current price of $104,616, Bitcoin is trading below the recent high of $105,200.3 and has fallen beneath the 9-period MA and 5-period SMA at $105,310.4, which now serve as resistance. The latest candlestick shows a small decline, closing at $104,616.8, with a low of $104,322.7, suggesting selling pressure persists. The price seems to be testing lower levels, and the next few hours may determine if this downward trend continues.
Overall, Bitcoin’s price has broken below the long-term trendline that supported the uptrend through May, confirming a shift in the broader trend. The market now appears neutral with a bearish tilt, as the price struggles to reclaim the moving averages. A higher low around May 25 provided some support earlier, but the recent decline below $105,000 suggests further downside risk. A move above $105,310.4 could signal a potential recovery, while a drop below $104,322.7 might lead to additional declines in the coming days.
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