Bitcoin (BTC/USD) Market Faces Renewed Selling Pressure Below Critical Resistance Zone
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Bitcoin Price Prediction – June 19
BTCUSD market faces renewed selling pressure below the critical resistance zone. BTCUSD has entered a bearish correction phase, confirmed by its recent rejection from the $108,090 resistance zone and subsequent close below the 9-day SMA, now trending around $106,420.
Momentum indicators are deteriorating, with the Relative Strength Index (RSI) sliding below its midline at 50, currently at 47, signaling waning bullish strength and a possible momentum shift to the downside. The failure to reclaim the short-term moving average reinforces a risk-off sentiment in the market, as institutional bids appear to be fading near previous swing highs.
BTC/USD Market Key Levels:
Resistance Levels: $108,390, $115,000, $125,000
Support Levels: $95,980, $85,010, $74,420
BTC/USD – Daily Chart
The BTCUSD daily chart shows a successful market structure shift in favour of the bears.
From a structural standpoint, the price has invalidated the recent bullish impulse by breaching minor support levels and forming a clear market structure shift (MSS) around $100,700. The sharp rejection at $108,090 underscores strong overhead resistance and distribution behavior. Notably, price action is carving out a series of lower highs, coupled with long upper wicks. The current price at $104,480 remains vulnerable as bullish attempts to reclaim higher ground are being met with consistent selling pressure.
What is the likely projection of BTCUSD?
Should bearish momentum persist, the path of least resistance points toward a drop into the $95,980 demand zone, which aligns with prior consolidation and breakout levels. A confirmed break below $100,700 would invalidate any remaining bullish bias and likely accelerate downside movement.
If that support fails to hold, the next significant technical floor lies near $85,010, representing a deeper correction zone. In the near term, sellers retain control unless the price can reclaim and hold above the $106,400–$108,000 region with volume-backed conviction.
BTC/USD – Four-Hour Chart
BTCUSD is trading below the 9-period SMA and has been rejected from the $108,390 supply zone marked by an order block. The bearish engulfing candle signals strong selling pressure after the failed breakout.
RSI is trending downward below the 50 level, confirming weakening momentum. Price may drop toward the $95,980 support if it fails to reclaim the $105,360 area.
Bitcoin (BTC) Current Statistics
The current price: $104,480
Market Capitalization: $2,080,000,000,000
Trading Volume: $45,970,000,000
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