Bitcoin Technical Recap – Bitcoin Reclaims $107K, Is a Breakthrough Brewing? (June 9, 2025)

After last week’s flash crash to $104,000  Bitcoin price is gaining momentum.  It’s currently trading at above $107,000, trying to find its footing in the aftermath. After shrugging the Elon Musk and Donald Trump conflict, the key question is this: 

Is Bitcoin about to have a breakout and smash the ATH level or simply pausing for another leg-lower?

Here’s where things stand technically, and what could come next in the days ahead.

Price action and key levels

Current zone

BTC is hovering in a narrow range following a sharp dip last week. While it hasn’t fully bounced back, it's showing signs of stabilization.

Support levels

• $102,400 – Immediate support
• $100,718 – Stronger technical base, near the 50-day EMA.
• $100,000 – Major psychological level
• $97,100 – Short-term holder cost basis
• $91,000 – 200-day EMA and deeper downside support

Resistance levels

• $106,058 and $107,177 – Short-term hurdles, $107,000 might be a key breakthrough level.
• $111,600 – Pre-crash high
• $114,800 – Strong overhead resistance zone

Technical indicators

• RSI (Relative Strength Index): Currently sitting around 53, right on the neutral line. It's flat and notably diverging from price, hinting at potential downside pressure.
• MACD (Moving Average Convergence Divergence):  MACD lines are dropping toward zero, and red histograms are growing. It’s a classic bearish signal, suggesting continued weakness, at least for now.
• Moving Averages: Short-term MAs remain bullish, with prices still above both the 50-day and 200-day averages. The upward slope of these MAs offers some technical support underneath
• Trend channels: Bitcoin broke above a short-term falling channel, which might slow its decline or lead to sideways action. But it also fell out of a medium-term rising channel, a warning sign that upward momentum could be fading.

Sentiment check

According to the Fear & Greed Index, market sentiment is sitting at 55. Right in "neutral" territory. No panic, no euphoria, just a lot of cautious observation. A text book “wait and see” phase.

Meanwhile, there is clear evidence that institutional appetite is growing. 

Strategy and other large players are reportedly eyeing more Bitcoin buys, which could provide longer-term support. On June 9th, Strategy announced an additional purchase of 1,045 Bitcoin for $110 million. 

Also, Know Labs, Inc. announces adoption of a Bitcoin Treasury Strategy, Starting with 1,000 Bitcoin. 

Stable-coin issuer, Circle successful IPO trading as high as $123.49 also, shows a growing appetite for crypto assets.

Also in the mix?

A potential short squeeze. With heavy short positioning, any strong move upward could trigger a wave of forced buying.

What to watch this week

This upcoming week will be highly volatile, especially due to the CPI data release on Wednesday. Here’s is what can happen:

Scenario 1: Sideways chop with downside risk

Technical momentum is cooling, and indicators like RSI divergence and bearish MACD suggest further consolidation. Possibly with a tilt lower. If BTC breaks below $100,000, look for a test of $97,100 or even $91,000.

Scenario 2: Recovery attempt

Should bulls regain control, Bitcoin could take another shot at $106,058 and $107,177. A clean daily close above this range might set the stage for a retest of the all-time high near $112,000.

Scenario 3: Volatility spike

Macro headlines, like the ongoing U.S.-China trade talks, could shake things up. Expect sharp moves in either direction if major news breaks.

Scenario 4: Short squeeze rally

If bulls catch even a modest catalyst, a rally could be supercharged by short covering. That could push BTC up faster than fundamentals alone might suggest.

Other key considerations

• Macroeconomics: Inflation data, interest rate signals, and global political shifts remain top-of-mind.
• Volume: Any breakout or breakdown without volume is suspect. Keep an eye on participation.

We’ll monitor key crypto metrics and share a fresh update following Monday, June 16, 2025.

Keep updated with the latest market moves by tracking BTC or setting alerts in TabTrader.

Cryptocurrency prices are highly volatile and can change rapidly; the prices and trends reported here, including those sourced from CoinMarketCap.com and other references, may not reflect real-time values at the time of reading.

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