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Home Market & Analysis

Bitcoin Price Bounces Past 105K: Is a Full-Blown Rally Back on the Cards?

n70products by n70products
June 9, 2025
in Market & Analysis
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Bitcoin Price Bounces Past 105K: Is a Full-Blown Rally Back on the Cards?
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Bitcoin value began a restoration wave above the $105,000 zone. BTC is now consolidating and may try and clear the $106,500 resistance.

  • Bitcoin began a restoration wave above the $105,000 zone.
  • The value is buying and selling above $105,000 and the 100 hourly Easy shifting common.
  • There’s a bullish development line forming with help at $105,350 on the hourly chart of the BTC/USD pair (information feed from Kraken).
  • The pair may begin a recent decline if it breaks the $104,000 help zone.

Bitcoin Value Restarts Improve

Bitcoin value began a recent decline and traded beneath the $102,500 help zone. BTC even traded near the $100,000 zone earlier than the bulls appeared.

A low was fashioned and the value recovered above the $103,500 resistance. The bulls even pushed the value above the $105,000 resistance. A excessive was fashioned at $106,426 and the value is now consolidating features above the 23.6% Fib retracement degree of the upward transfer from the $100,400 swing low to the $106,426 excessive.

Bitcoin is now buying and selling above $105,000 and the 100 hourly Simple moving average. There may be additionally a bullish development line forming with help at $105,350 on the hourly chart of the BTC/USD pair.

Bitcoin Price

On the upside, rapid resistance is close to the $106,200 degree. The primary key resistance is close to the $106,500 degree. The following key resistance might be $107,600. A detailed above the $107,600 resistance may ship the value additional increased. Within the acknowledged case, the value may rise and take a look at the $108,800 resistance degree. Any extra features may ship the value towards the $110,000 degree.

One other Decline In BTC?

If Bitcoin fails to rise above the $106,200 resistance zone, it may begin one other decline. Instant help is close to the $105,200 degree and the development line. The primary main help is close to the $103,500 degree and the 50% Fib retracement degree of the upward transfer from the $100,400 swing low to the $106,426 excessive.

The following help is now close to the $102,000 zone. Any extra losses may ship the value towards the $100,500 help within the close to time period. The primary help sits at $100,000, beneath which BTC may acquire bearish momentum.

Technical indicators:

Hourly MACD – The MACD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now above the 50 degree.

Main Help Ranges – $105,200, adopted by $103,500.

Main Resistance Ranges – $106,200 and $107,600.



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