Bitcoin Price Crash To $104,000: What You Need To Know In June

Crypto expert Doctor Profit has risen successful fame for making aggregate near-perfect calls for the Bitcoin price. He had predicted the Bitcoin diminution from $109,000 backmost down and past called a bottommost astatine $77,000, predicting the BTC terms would bounce to caller all-time highs, which it did. Now, with the Bitcoin terms recoiling from hitting a caller all-time precocious supra $111,000, the crypto expert is backmost with adjacent steps and wherever the cryptocurrency could beryllium headed from here.

Why The Bitcoin Price Golden Cross Matters

In his X post, Doctor Profit starts retired by explaining the science of the existent market, calling retired those who proceed to telephone retired for a carnivore market. He refers to these radical arsenic ‘exit liquidity’ for the existent players, hinting that they’re incorrect for their stance. Rather, helium points retired an important enactment successful the Bitcoin terms illustration and that is the Golden Cross, which appeared past week.

The expert calls the quality of this Golden Cross “a macro-level awesome with historical accuracy.” He explains that since this awesome is truthful rare, but has been close each time, determination is nary crushed to deviate from it. Also, helium further explains that the Golden Cross has ever been a long-game signal. Hence, results are not expected to commencement showing truthful early.

The Golden Cross signifier had appeared connected the play chart, and the crypto expert highlights its humanities accuracy. Each clip that the Bitcoin terms has formed this Golden Cross, it has usually led to a multi-month rally. If this is the lawsuit this cycle, past it suggests that the Bitcoin bull tally is acold from over.

Source: X

Don’t Worry About The Bears

After the Golden Cross signifier appeared, different concerning improvement had taken spot connected the Bitcoin terms illustration and that is simply a bearish divergence connected the play timeframe. Normally, this means an extremity to the rally and that the terms could commencement to plummet. However, the crypto expert seems unfazed by this.

He refers to a akin bearish divergence appearing erstwhile the Bitcoin terms was trading astatine $80,000 and thing happened. Since the cryptocurrency had continued its bullish tally astatine that point, the expert takes this arsenic a hint that the bearish divergence is lagging and lone appeared owed to Donald Trump’s tariff announcement past week. “No actionable worth here,” Doctor Profit said.

Things To Watch Out For

So far, Doctor Profit attributes the drawdown successful the Bitcoin terms to “standard rhythm behavior.” This includes profit-taking from short-term holders who bought successful the past six months, portion semipermanent holders stay unmoved. Another bullish origin includes the information that BlackRock’s outflows stay debased contempt Trump’s renewed tariff war.

Formations connected the Bitcoin terms illustration that amusement bullish tendencies see a Cup and Handle signifier connected the regular illustration that puts the breakout portion betwixt $113,000 and $115,000. Also, the Bitcoin terms has been signaling higher highs and higher lows aft signaling its bottommost astatine $74,000, which shows inclination enactment remains strong.

The Bitcoin terms is besides trading supra each large moving averages (MAs), including the 20-day, 50-day, and 200-day moving averages. Last but not least, Doctor Profit besides pointed retired that the MACD enactment has crossed supra the awesome enactment connected the play chart. This means that momentum remains successful favour of the bulls. Given this, the expert believes “there is nary crushed to beryllium frightened astatine all.”

BTC bulls inactive being pushed backmost by bears | Source: BTCUSD connected TradingView.com

Featured representation from Dall.E, illustration from TradingView.com