{"id":74769,"date":"2025-06-20T02:06:12","date_gmt":"2025-06-20T02:06:12","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=74769"},"modified":"2025-06-20T02:06:12","modified_gmt":"2025-06-20T02:06:12","slug":"bitcoin-price-bottoms-out-recovery-hopes-rise-after-base-formation","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=74769","title":{"rendered":"Bitcoin Price Bottoms Out? Recovery Hopes Rise After Base Formation"},"content":{"rendered":"

Bitcoin price started a fresh decline below the $106,000 zone. BTC is now consolidating and might soon aim for a fresh increase above the $105,500 zone.<\/em><\/p>\n

Bitcoin started a fresh decline below the $106,000 zone.
\nThe price is trading below $105,500 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance at $104,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it stays above the $103,500 zone.<\/p>\n

Bitcoin Price Faces Resistance<\/h2>\n

Bitcoin price started a fresh decline<\/a> below the $107,500 zone. BTC gained pace and dipped below the $106,200 and $106,000 levels.<\/p>\n

There was a clear move below the $105,000 support level. Finally, the price tested the $103,500 zone. A low was formed at $103,400 and the price started a consolidation phase. It climbed above the 23.6% Fib retracement level of the downward move from the $108,925 swing high to the $103,400 low.<\/p>\n

However, the bears were active below the $105,000 zone. Bitcoin is now trading below $105,000 and the 100 hourly Simple moving average<\/a>. There is also a key bearish trend line forming with resistance at $104,850 on the hourly chart of the BTC\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $105,000 level. The first key resistance is near the $105,500 level. The next key resistance could be $106,150. It is near the 50% Fib retracement level of the downward move from the $108,925 swing high to the $103,400 low.<\/p>\n

<\/a><\/p>\n

A close above the $106,150 resistance might send the price further higher. In the stated case, the price could rise and test the $108,000 resistance level. Any more gains might send the price toward the $108,800 level.<\/p>\n

Another Drop In BTC?<\/h2>\n

If Bitcoin fails to rise above the $105,000 resistance zone, it could start another decline. Immediate support is near the $104,150 level. The first major support is near the $103,500 level.<\/p>\n

The next support is now near the $102,500 zone. Any more losses might send the price toward the $101,200 support in the near term. The main support sits at $100,000, below which BTC might gain bearish momentum.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $104,150, followed by $103,500.<\/p>\n

Major Resistance Levels \u2013 $105,000 and $106,200.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline below the $106,000 zone. BTC is now consolidating and might soon aim for a fresh increase above the $105,500 zone. Bitcoin started a fresh decline below the $106,000 zone. The price is trading below $105,500 and the 100 hourly Simple moving average. There is a key bearish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":74770,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-74769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/74769"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=74769"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/74769\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/74770"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=74769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=74769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=74769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}