BTC short term correction: zone 100k

💎 BTC PLAN UPDATE (June 2)

NOTABLE NEWS ABOUT BTC:

Meta shareholders have decisively voted down a proposal to explore adding Bitcoin to the company’s balance sheet, signaling limited appetite for crypto exposure at the tech giant.

According to a regulatory filing dated May 28, the “Bitcoin treasury assessment” proposal garnered just 3.92 million votes in favor — representing a mere 0.08% of total shares — while nearly 5 billion votes against it.

Given that CEO Mark Zuckerberg holds 61% of Meta's voting power, as disclosed in an April filing, it is likely he played a pivotal role in rejecting the measure.

TECHNICAL ANALYSIS PERSPECTIVE

Bitcoin closed below the daily support level of $106,406 on Thursday and fell another 1.50% the following day. However, prices saw a slight recovery over the weekend. As of Monday's writing, BTC is trading below $105,500.

Assuming BTC faces resistance around the $106,406 daily level and continues correcting, it could extend the decline to retest the psychologically important $100,000 mark.

The Relative Strength Index (RSI) on the daily chart is at 53, trending down toward the neutral level of 50, indicating weakening bullish momentum. The Moving Average Convergence Divergence (MACD) also showed a bearish crossover last week. The increasing red histogram bars below the baseline further signal a potential correction ahead.

At this point, whether you are new or experienced, it’s advised to spend more time practicing and enhancing your knowledge of technical analysis. Consider exploring educational posts on the channel (…) to strengthen your foundation and avoid losses during this period.

==> This is a trend-based analysis for reference only. Wishing all investors successful trades!