Bitcoin’s price stands at $104,323 on June 18, 2025, supported by a market capitalization of $2.07 trillion and 24-hour trading volume totaling $33.61 billion. With an intraday range of $103,630 to $105,886, bitcoin has remained above the $100,000 threshold for 42 consecutive days, signaling sustained investor interest despite emerging signs of weakness.
Bitcoin Price Watch: Bearish Momentum Builds Despite Holding $100K Line
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The daily chart indicates bitcoin is consolidating within a well-defined range between $104,000 and $109,000, capped by a strong resistance ceiling at $112,000. Price action suggests a distribution phase, as red volume spikes near peaks hint at selling pressure from larger market participants. Key support has formed around $100,426, a psychologically significant level repeatedly tested and held. A daily close below this threshold could trigger a breakdown, while a breakout beyond $112,000 would resume a bullish continuation.
From the 4-hour perspective, bitcoin is displaying signs of weakening momentum. A lower high formed at $108,990 and support retested at $102,816 reveal a tightening range with a bearish undertone. The current price band of $104,000 to $105,000 is witnessing consolidation with diminishing upside attempts. Market participants may consider short entries if the price rebounds toward the $107,000 to $108,000 area and fails to hold, with exit targets near $103,500. A push above $109,000 with volume could negate this bearish setup and favor a shift to a short-term bullish bias.
Zooming into the 1-hour chart, bitcoin recently fell sharply from $107,773 to $103,388, entering a minor consolidation marked by indecisive doji and small-bodied candles. The reduction in volume reflects low conviction, with sellers still in control unless buyers step in above $105,000 with volume support. Short positions below $104,000 remain viable with targets near $103,000, while any attempt to move above $106,000 would need validation through a sustained breakout. Until then, short-term sentiment remains bearish.
Technical indicators across oscillators and moving averages (MAs) broadly reinforce the cautious outlook. The relative strength index ( RSI) at 47, Stochastic at 47, and commodity channel index (CCI) at -54 all sit in neutral territory, suggesting a lack of immediate directional momentum. However, momentum (10) reads at -1,512 and the moving average convergence divergence ( MACD) level at 342 both signal negative momentum, reflecting downside risk. These are compounded by the average directional index (ADX) at 16 and the Awesome oscillator at -682, both pointing to weak trend strength.
MA signals are mixed but generally bearish in the short term. Both the 10-day and 20-day exponential moving averages (EMA) and simple moving averages (SMA) show negative signals. Sell pressure bias extends to the 30-day levels, while the 50-day EMA offers a rare bullish indication. The longer-term 100-day and 200-day EMAs and SMAs are firmly in bullish territory, highlighting a broader positive structure despite short-term corrections. Overall, the technical setup reflects a market in temporary consolidation, with directional clarity likely hinging on a decisive break of either $100,000 or $112,000.
Bull Verdict:
A breakout above $112,000 would signal renewed bullish strength, confirming the continuation of the larger uptrend. With support from longer-term moving averages and bitcoin’s 42-day streak above $100,000, buyers remain well-positioned should momentum return, especially if volume confirms an upward move past key resistance zones.
Bear Verdict:
Failure to defend the $100,000 support could escalate a broader correction, as intraday charts reflect weakening momentum and selling pressure dominates rallies. With short-term moving averages and momentum oscillators aligning on bearish signals, the market risks entering a deeper downtrend unless buying conviction resurfaces soon.
