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Prepare for Bitcoin’s ‘Red Week’ if This Critical Level Breaks, Expert Warns

Critical Technical Levels:

  • Key support: $100,000-$103,000 range
  • Breakdown target: $88,000 (Fibonacci level)
  • Breakout potential: Above $130,000
  • Current price: $104,009 (+0.5% daily, -5.5% weekly)

⚠️ Critical Support Zone Under Threat

A trading expert has highlighted the importance of Bitcoin holding above the $100,000 mark, warning that a drop below could trigger a sharp correction.

Specifically, Master Ananda’s analysis shows that the $100,000 to $103,000 range now serves as Bitcoin’s key support. If this level fails, traders should brace for a red week followed by sideways consolidation before any meaningful recovery.

📊 Technical Picture

Ananda noted that Bitcoin has already dipped into this zone, and the market is watching closely to see if it will hold or break under pressure.

Scenario Outcomes:

  • 🔻 Support Break: Deeper correction with downside targets near $88,000 (key Fibonacci retracement level)
  • 🚀 Support Hold: Sharp rebound that could push Bitcoin to new highs above $130,000

“Between $100,000 and $103,000. If this level breaks, prepare to see Bitcoin producing another red week then consolidation, on and on, before the next high” — he stated.

🔄 Healthy Correction in Bull Trend

While the short-term outlook is uncertain, Ananda remains bullish long-term. He pointed out that retracements are typical and healthy in any uptrend.

He also suggested the current pullback may offer a rare buying opportunity for those who missed earlier entries.

📈 Cup and Handle Pattern Formation

In a June 1 post on X, pseudonymous analyst Mags noted that Bitcoin is completing a bullish “cup and handle” breakout pattern with a potential target of $125,000.

Pattern Mechanics:

  • Asset forms rounded bottom (“cup”)
  • Followed by consolidation (“handle”)
  • Breakout above resistance neckline often leads to rally

This supports the view that Bitcoin’s breakout from the $65,000-$70,000 resistance channel has laid groundwork for further gains.

🎯 Current Targets and Analysis

Current Price: $104,009 (+0.5% in 24 hours, -5.5% weekly)

Near-term Targets:

  • Immediate: Reclaim $105,000 level
  • Bullish scenario: New highs above $120,000-$130,000
  • Bearish scenario: Drop to $88,000 if $100,000 breaks

Despite the recent pullback, Bitcoin ended May with its highest monthly close on record, indicating continued underlying bull trend strength.

Bottom Line: Bitcoin sits at a critical juncture where the $100,000-$103,000 support range will determine whether the correction deepens or the bull run resumes toward new highs above $130,000.

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