The Bitcoin market has recently suffered a significant bearish trend as the public feud between US President Donald Trump and the world's richest man Elon Musk on Thursday negatively impacted the US financial markets. During this time, the leading cryptocurrency has fallen approximately 5% from $106,000 to trade below $101,000.
Interestingly, despite short-term volatility, several key technical indicators currently suggest a bullish setup. In fact, this latest pullback seems to complete a series of signals that often occur before major price increases.
Bitcoin is poised to rise, with the first target being $130,000.
In a post on X on June 6, a market expert with the username X CrypFlow shared a prediction that Bitcoin's price will rise amid the ongoing price adjustment.
In addition to the sharp bearish trend over the past week, the BTC market has witnessed a stable price adjustment since this leading cryptocurrency reached a new all-time high of $111,970 on May 22. However, CrypFlow claims that this price pullback, along with a series of other technical indicators, suggests that Bitcoin is preparing to replicate the price surge from the fourth quarter of 2024.
The first indicator that analysts observed in the chart above is the golden cross, which occurs when the 50-day simple moving average (50SMA) crosses above the 200-day simple moving average (200SMA) at the beginning of June 2025. The golden cross is a popular bullish indicator signaling a change in market momentum, and the last time it was seen was in November 2024.
Furthermore, the price of Bitcoin has broken above the long-standing purple bearish trend line that began in December 2024. This breakout also reflects another move that took place in early November 2024, when BTC broke through the declining resistance level that started in March 2024.
The current price adjustment is the final indicator as Bitcoin has also fallen by an estimated 10% in November, from $74,500 to $68,500 before a strong rally.
CrypFlow's analysis indicates that if Bitcoin repeats the price surge from Q4 2024, this leading cryptocurrency could yield a price increase of 62%, corresponding to a potential target of around $170,000. However, the analyst has set a more cautious initial price target of $130,000, which corresponds to a 25% increase from the current market level.
Bitcoin price prediction
At the time of the report, Bitcoin was trading at $104,850 after increasing by 2.57% in the past day. Meanwhile, the daily trading volume of this asset has fallen by 19.59%.
According to data from the prediction site Coincodex, the overall sentiment of the BTC market remains optimistic despite the Fear & Greed Index being at 45, indicating Fear. The Coincodex analysis team supports the positivity of this market with a price forecast of $134,074 in five days and $155,864 in three months.
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Historical Bitcoin Data Indicates a Price Rise of 62% is About to Happen – Analyst
The Bitcoin market has recently suffered a significant bearish trend as the public feud between US President Donald Trump and the world's richest man Elon Musk on Thursday negatively impacted the US financial markets. During this time, the leading cryptocurrency has fallen approximately 5% from $106,000 to trade below $101,000. Interestingly, despite short-term volatility, several key technical indicators currently suggest a bullish setup. In fact, this latest pullback seems to complete a series of signals that often occur before major price increases. Bitcoin is poised to rise, with the first target being $130,000. In a post on X on June 6, a market expert with the username X CrypFlow shared a prediction that Bitcoin's price will rise amid the ongoing price adjustment. In addition to the sharp bearish trend over the past week, the BTC market has witnessed a stable price adjustment since this leading cryptocurrency reached a new all-time high of $111,970 on May 22. However, CrypFlow claims that this price pullback, along with a series of other technical indicators, suggests that Bitcoin is preparing to replicate the price surge from the fourth quarter of 2024.
The first indicator that analysts observed in the chart above is the golden cross, which occurs when the 50-day simple moving average (50SMA) crosses above the 200-day simple moving average (200SMA) at the beginning of June 2025. The golden cross is a popular bullish indicator signaling a change in market momentum, and the last time it was seen was in November 2024. Furthermore, the price of Bitcoin has broken above the long-standing purple bearish trend line that began in December 2024. This breakout also reflects another move that took place in early November 2024, when BTC broke through the declining resistance level that started in March 2024. The current price adjustment is the final indicator as Bitcoin has also fallen by an estimated 10% in November, from $74,500 to $68,500 before a strong rally. CrypFlow's analysis indicates that if Bitcoin repeats the price surge from Q4 2024, this leading cryptocurrency could yield a price increase of 62%, corresponding to a potential target of around $170,000. However, the analyst has set a more cautious initial price target of $130,000, which corresponds to a 25% increase from the current market level. Bitcoin price prediction At the time of the report, Bitcoin was trading at $104,850 after increasing by 2.57% in the past day. Meanwhile, the daily trading volume of this asset has fallen by 19.59%.
According to data from the prediction site Coincodex, the overall sentiment of the BTC market remains optimistic despite the Fear & Greed Index being at 45, indicating Fear. The Coincodex analysis team supports the positivity of this market with a price forecast of $134,074 in five days and $155,864 in three months.