After a powerful reversal from sub-$100K lows earlier this week, Bitcoin price today is consolidating near $106,300. The recovery rally has pushed BTC into a critical supply zone around $106,500–$107,000, a level that previously triggered multiple rejections. While intraday momentum remains positive, indicators now suggest a potential cooldown phase unless bulls reclaim control with stronger volume.
What’s Happening With Bitcoin’s Price?
BTC/USD price dynamics (Source: TradingView)
Bitcoin price action has entered a narrow consolidation range after reclaiming the $106K level. The current structure on the 4-hour chart shows BTC retesting the upper Bollinger Band, with price hovering near $106,300 and capped by the upper limit at $107,966. The price remains well above the 20/50/100/200 EMA cluster, with the 20 EMA at $104,342 now acting as dynamic support.
BTC/USD price dynamics (Source: TradingView)
On the daily timeframe, BTC has broken out of the descending structure and is eyeing the upper channel region between $109,770 and $114,896 based on the Fibonacci extension zone. However, this move will require strong follow-through above the key $107,800–$108,000 pivot region. Meanwhile, volume remains steady but has not confirmed a true breakout, hinting at hesitation from larger participants.
Why Is The Bitcoin Price Going Up Today?
BTC/USD price dynamics (Source: TradingView)
The bounce from $98,000 on June 23 triggered a structural reversal and a supertrend flip on the 4-hour chart. This shift was supported by a bullish divergence on RSI at the lows, along with a MACD crossover that signaled momentum build-up around $100K. Currently, RSI (30-min) holds at 56.13 and has neutralized recent bearish divergences, indicating mild bullish strength but no overextension.
BTC/USD price dynamics (Source: TradingView)
On-chain indicators like OBV (1.73M) are recovering, while the Supertrend level at $102,432 has acted as the pivot trigger for this short-term bullish sequence. However, price is beginning to compress near the $106.5K band, where previous breakouts have failed without volume confirmation.
The Directional Movement Index shows the +DI is slightly above -DI (24.04 vs. 22.41), but the ADX remains below 20, suggesting a non-trending environment unless a breakout follows. Additionally, the VI indicator remains indecisive, with VI- slightly leading VI+, adding caution to short-term bullish bets.
Bitcoin Price Indicators Signal Momentum Cooling Near Resistance
BTC/USD price dynamics (Source: TradingView)
Bitcoin price spikes were initially driven by reclaiming the VWAP and mid-supply levels around $104K. The SAR (Stop and Reverse) indicator now plots beneath price at $106,055, maintaining a buy-side bias but with reduced slope steepness.
BTC/USD price dynamics (Source: TradingView)
On the structure front, Bitcoin is sitting on the neckline of a minor bullish continuation pattern. However, price is repeatedly stalling below the key liquidity zone between $106,800–$107,200, which has historically acted as a bull trap. Trendline extensions from lower timeframes still show higher lows, reinforcing the upward bias for now.
BTC Price Prediction: Short-Term Outlook (24h)
BTC/USD price dynamics (Source: TradingView)
The daily Fibonacci pitchfork supports upward movement toward $109,770 and $114,896 if bulls break above the $107,833–$108,000 red zone, which now marks immediate resistance. Failure to sustain above $106,000 could push the pair back to $104,268 or even $102,943 for a retest.
Bitcoin price update shows a stall beneath $106,500 as bulls test critical resistance zones. If the current structure breaks above $107,000 with volume, BTC could extend to $109,400 (Fib R3) and potentially $114,800. A clean flip of the $107,800 resistance into support would add conviction to this outlook.
Conversely, a rejection from $106,800 without volume could send BTC toward the $104,300–$102,900 EMA support band. Breakdown below this zone may invite fresh short-term pressure toward $100,000 and even the demand base around $98,000.
Given mixed momentum readings and price compression, the next 24 hours will likely determine whether Bitcoin price sustains its bullish leg or slips back into consolidation.
Bitcoin Price Forecast Table: June 26, 2025
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