Bitcoin Faces Critical Technical Test: Analyst Sees Bullish TK Cross, Imbalances and $270K Target

Leading technical analyst Dr. Cat warns that Bitcoin is at a pivotal crossroads, with the weekly close on June 9 and a potential bullish TK cross on the Ichimoku chart poised to determine the next major price movement. While earlier expectations centered on Bitcoin pulling back to $90,000, Dr. Cat now considers such a retrace highly unlikely due to the strength of higher timeframe support levels. Short-term volatility is expected in the untested price imbalance zone between $102,600 and $106,300. The Ichimoku Chikou Span indicator remains bullish, but the upcoming TK cross is a crucial event—failure to break a new all-time high (ATH) shortly after could signal waning momentum and invalidate the signal. Additionally, divergence between BTCUSD and BTCEUR pairs has been noted, with BTCEUR underperforming, partly due to dollar weakness. On the macro front, upcoming U.S. Consumer Price Index data and the Federal Reserve meeting in mid-June may sway market sentiment. Dr. Cat has outlined a speculative long-term price target of $270,000 based on Ichimoku Price Theory, but warns this outlook is uncertain. The next 2–3 weeks are critical: if Bitcoin breaks ATH, it could confirm a continued uptrend; failure may indicate cooling through Q4. At present, BTC trades near $108,783. Traders should closely monitor key support levels, technical signals, and macro developments as the market approaches this decisive inflection point.