Bitcoin is trading at $105,138 as of June 24, 2025, with a market capitalization of $2.09 trillion. Its 24-hour trading volume stands at $52.63 billion, within an intraday price range of $100,177 to $105,927, reflecting a strong rebound from recent lows and renewed market activity.
Bitcoin Price Watch: Price Holds Above $105K as Technical Reversal Builds
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On the daily chart, bitcoin shows signs of a reversal after a pronounced mid-term downtrend from $112,000 to a recent low near $98,240. A bullish reversal candle accompanied by increased volume suggests renewed buying interest. The current support level sits firmly at $98,000, while resistance looms between $106,000 and $108,000. Maintaining a position above $104,000 is critical for sustaining this upside momentum. The daily bias remains cautiously optimistic, contingent on price action staying above this threshold.
The 4-hour bitcoin chart reveals a pronounced V-shaped recovery, reinforcing the bullish short-term narrative. After bottoming out at $98,240, bitcoin surged with strength, supported by rising green volume bars and consolidation just below the $106,000 resistance. A breakout above $106,500, especially with volume confirmation, could pave the way for a move toward $108,000 or higher. This timeframe reinforces active bullish participation, suggesting upward continuation if critical resistance is cleared.
In the 1-hour chart, bitcoin displays a strong uptrend from $99,705, marked by a sequence of higher highs and higher lows. The price is consolidating between $105,000 and $106,000, potentially forming a bullish flag pattern. Although volume has tapered slightly, indicating the possibility of a minor pullback, a retracement toward the $104,500–$105,000 range may present an opportunity for long entries. The bias remains bullish, though cautious positioning is advised near resistance zones.
Technical indicators present a mixed yet slightly favorable outlook. Among the oscillators, the relative strength index ( RSI) at 52, Stochastic at 47, commodity channel index (CCI) at 3, and average directional index (ADX) at 18 all signal neutrality. The awesome oscillator at −2,816 also supports this stance. However, the momentum indicator at −24 suggests a buying opportunity, while the moving average convergence divergence ( MACD) level at −276 indicates a lingering bearish trend. This mix suggests a market at a potential inflection point.
Moving averages (MAs) underscore the prevailing bullish undercurrent. All exponential moving averages (EMA) — from the 10-period ($104,482) to the 200-period ($93,803) — signal a bullish trend. The simple moving averages (SMA) tell a slightly more nuanced story, with the 30-period SMA ($105,674) issuing bearish sentiment and the rest — including the key 50-period ($105,296) and 200-period ($96,017) — supporting bullish conditions. This convergence of trend-following indicators suggests a strengthening technical backdrop, provided bitcoin can maintain upward momentum through key resistance zones.
Bull Verdict:
If bitcoin sustains momentum above the $104,000 level and breaks decisively through the $106,500 resistance with strong volume, the path toward $108,000 becomes technically viable. Favorable moving average alignments and a bullish pattern on the hourly and 4-hour charts support a continuation of the upward trend, making a bullish outcome the dominant short-term scenario.
Bear Verdict:
Should bitcoin fail to clear the $106,500–$108,000 resistance band and selling pressure emerge, a retracement toward $102,500 or even the $98,000 support could follow. The sell signal from the moving average convergence divergence ( MACD) and neutral readings across oscillators suggest vulnerability if bullish momentum wanes.
