Bitcoin (BTC/USD) Market Poised For Bullish Continuation After Retracement To Demand Zone
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Bitcoin Price Prediction – June 12
BTCUSD market poised for bullish continuation after retracement to demand zone. BTC/USD has exhibited notable resilience, rebounding off the $100,480 demand zone, which coincides with the 0.618 Fibonacci retracement level.
The $100,480 zone acted as a strong confluence of support, further validated by a bullish order block (OB) and the bounce from the 9-day Simple Moving Average (SMA), currently at approximately $106,500. The Relative Strength Index (RSI) hovers around 54, indicating moderate bullish momentum with sufficient room for upside. Given the sustainability of the rebound and continued SMA support, market sentiment leans toward renewed bullish interest after a corrective phase.
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 short term retracement into the bullish order block at $106,000.
Technically, price action has maintained its higher-low structure, respecting the bullish market structure established since April. The recent pullback to the $100,480 region was cleanly absorbed by buyers, leading to a decisive bullish engulfing candle that reclaimed the $106,000 zone.
The short-term rejection at $108,680 is not indicative of weakness but rather a minor resistance encounter within a broader uptrend. The market structure remains intact as long as price stays above the $105,990 intraday support level, which now serves as a near-term validation zone for continued upward movement.
What is the likely projection of BTCUSD?
Looking ahead, if bullish momentum persists above the $106,000–$107,000 region, BTCUSD is likely to revisit the $112,000 local high. A breakout beyond that level could pave the way for an extension toward the psychological and technical resistance at $115,000.
Should that level be cleared, the longer-term target sits near $125,000, in line with prior macro-level supply. Conversely, failure to hold above $105,990 could induce a retest of the $102,680 or $100,480 zones, offering potential long re-entry opportunities before the uptrend resumes.
BTC/USD – Four-Hour Chart
BTCUSD is currently approaching the 4H bullish order block around $106,000, which aligns with a prior demand zone. The 9-period SMA at $108,380 is overhead, suggesting that a breakout above it could accelerate bullish momentum.
RSI is turning upward from 44, indicating renewed buying pressure. A clean break above $108,400 opens the path toward $115,000 in the near term.
Bitcoin (BTC) Current Statistics
The current price: $107,140
Market Capitalization: $2,090,000,000,000
Trading Volume: $73,190,000,000
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