Bitcoin Price Holds Above $105,000, Market Prepares for Major Technical Turn
The cryptocurrency market is witnessing positive movements as Bitcoin held steady above the $105,000 mark on June 24, 2025. The world’s largest digital currency is currently trading around $105,138, with a market capitalization of $2.09 trillion and a 24-hour trading volume exceeding $52.6 billion. The intraday range has been between $100,177 and $105,927, indicating a significant recovery from the recent lows and active buying activity in the market.
Trend Reversal Forming on Daily Chart
After a prolonged correction from the $112,000 highs, Bitcoin bottomed out at $98,240 before recovering strongly. Currently, the daily chart shows the appearance of a bullish reversal candle accompanied by increasing volume, indicating that money is returning. The key support level at $98,000 is playing its role, while the short-term resistance zone is concentrated around $106,000-108,000. Holding the price above $104,000 is considered a key factor to maintain the technical recovery trend in the short term.
4-hour chart reinforces the bullish signal
The technical analysis in the 4-hour time frame shows a clear V-shaped recovery pattern. After bottoming, Bitcoin price has surged, supported by green candles accompanied by a surge in trading volume, indicating overwhelming buying pressure. Currently, the price is consolidating just below the resistance level of $106,000. If Bitcoin can break out of $106,500 with volume confirmation, an extension to $108,000 or higher is possible. This would be the decisive level to confirm the formation of a short-term uptrend.
Positive Signal on 1-Hour Chart
On the 1-hour time frame, Bitcoin is clearly showing a bullish structure with a series of higher lows and higher highs, starting from the $99,705 area. Currently, the price is consolidating around $105,000-$106,000 and is likely to form a “bull flag” pattern, a sign of consolidation before continuing the uptrend. Although trading volume is slightly decreasing, this could signal a minor correction to the $104,500-$105,000 support area, opening up opportunities for new long positions. However, caution near resistance is still recommended.
Technical indicators reflect mixed sentiment
A set of oscillators shows a neutral technical picture with a slight bias towards the positive side. The RSI at 52 and the Stochastic at 47 reflect a balanced state. The CCI and ADX at 3 and 18 respectively indicate a lack of strong momentum. However, the momentum indicator at 24 and the MACD at 276 still show a sell signal, warning that the market may need more momentum to confirm the new trend. However, the current technical signals suggest that the market is at a point where a clear turning point may occur.
Moving averages support the uptrend
The moving average system is reinforcing the uptrend with all EMAs from 10-period ($104,482) to 200-period ($93,803) giving clear bullish signals. Meanwhile, the SMAs are slightly mixed, with the 30-period SMA signaling a short-term correction at $105,674, but the 50- and 200-period SMA (at $105,296 and $96,017, respectively) still supporting the bullish market view. This suggests that the overall trend remains positive if Bitcoin maintains its current bullish momentum.
Market Scenario
Bullish Scenario: If Bitcoin holds support above $104,000 and breaks through the strong resistance zone at $106,500 with convincing trading volume, the market could extend its target to $108,000 in the short-term. The technical pattern, combined with positive momentum across timeframes, reinforces this possibility.
Bearish scenario: In case the buying pressure weakens or the market fails to break above the $106,500, $108,000 zone, selling pressure may re-emerge, pushing the price towards the $102,500 support zone, or even the $98,000 key level that determines the mid-term trend.
Conclusion
Bitcoin price is currently in a technically sensitive phase. Holding above $105,000 combined with a short-term bullish pattern is a positive sign, but the upcoming resistance levels will be the real test. A breakout or pullback at $106,000, $108,000 will shape the next trend, not only for Bitcoin but also for the entire crypto market in the coming weeks.