Golden Cross Signals Rebound? Technical Outlook After Bitcoin Price Crashed to $104,000

Price Downtrend Overview

Recently, the price of Bitcoin has seen a correction after breaking historical highs, with a pullback on June 13, dropping from around $109,000 to $104,000. Experts analyze that this adjustment is mainly a normal correction of the market due to profit-taking at high levels and the influence of external events.

Interpretation of golden cross signals

Crypto analyst Doctor Profit pointed out that Bitcoin has formed a golden cross signal between the 50-week moving average and the 200-week moving average on the weekly level. This rare signal has indicated a multi-month bullish pattern every time it has appeared in the past, suggesting further upside potential in the medium to long term.

Key support and resistance in technical analysis

• Support levelThe current primary support is at $104,000, if it is breached, the next level to watch is $100,000;
• Resistance levelShort-term resistance focuses around $107,000, and repeated tests without a breakthrough will affect buying confidence.

The impact of macro factors on Bitcoin

1. Federal Reserve interest rate expectationsThe latest inflation data has hit rate cut expectations, putting overall pressure on cryptocurrencies. According to Coinpedia, there is still significant uncertainty regarding the interest rate decision in June.
2. Exchange Spot SupplySince 2025, the exchange’s BTC reserves have decreased by 14%, and the tightening of spot supply helps support prices in the medium to long term.

Newbie investment advice

• go with the trendWhen the price approaches the support level, buy on the dip and strictly implement stop-loss.
• Pay attention to moving average signalsIf the weekly golden cross holds and the monthly line also shows a match, you can appropriately increase your position.
• Diversified allocationDistribute assets across different risk levels, and cryptocurrency assets should not exceed 20% of the total investment portfolio.
• Continuous learningPay more attention to technical analysis and macroeconomic dynamics to enhance sensitivity to market fluctuations.