Bitcoin Stabilizes At $104,000 Mid-Range As Market Eyes Next Breakout

Bitcoin's price briefly dipped on Thursday due to public tension between Donald Trump and Elon Musk, falling below $101,000. The cryptocurrency quickly recovered, trading around $104,000 after the incident. Market analyst Crypto Daan identifies key price levels influencing the next market breakout. Bitcoin experienced a bullish May, reaching a new all-time high near $112,000. The asset has since seen a correction, currently trading in a range between $100,000 and $106,000. Breaking below $100,000 could extend the correction for weeks, with support potentially at $95,000 and $85,000. A move above $106,000 would signal the correction's end, potentially leading to new price discovery, targeting $120,000. Currently, Bitcoin is trading at $104,650, with positive daily, weekly, and monthly gains. The Relative Strength Index suggests the correction may be over. Bitcoin's market capitalization remains significant at $2.07 trillion.