Bitcoin experienced a bounce near several support trend lines on June 2, with little sign of trend change as a stalemate between bulls and bears continued. Traders are betting on a $27,500 BTC price ceiling, with the collection of moving averages and short-term holder realized price near $26,000 remaining untested on intraday timeframes. Popular traders Crypto Ed and Crypto Tony both urged caution until Bitcoin breaks above $27,500, with Crypto Ed suggesting a potential upside topping out at that level and Crypto Tony focusing on Ether ($ETH). Meanwhile, others argue that time is ticking for Bitcoin to break out, with financial commentator Tedtalksmacro flagging favorable macro conditions.
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