Bitcoin Technical Analysis 16 june: Will the Uptrend Persist?

Bitcoin technical analysis on June 16, 2025: Exploring resistance, support zones, and indicators to forecast market trends.

On June 16, 2025, Bitcoin is at a critical price juncture, warranting a detailed technical analysis. The current price hovers around $105,400, moving within a mid-term ascending channel. This analysis focuses on resistance and support zones, technical indicators, and the overall market trend. **Resistance and Support Zones** The primary resistance zone for Bitcoin lies between $110,000 and $111,800. This range has rejected the price twice in recent weeks, with candles showing long upper wicks indicating strong selling pressure. A breakout above this resistance could target $125,000 and potentially $150,000 in the long term. On the downside, key support is at $102,500, which recently triggered a price bounce. A break below this support could lead to a decline toward $100,000 or even $97,700. **Technical Indicators** The RSI on the daily timeframe is around 55, suggesting a neutral stance with a slight bullish bias. This level indicates Bitcoin is neither overbought nor oversold, leaving room for upward movement. The MACD showed a bullish crossover last week, reinforcing a short-term bullish trend. The 50-day moving average (around $103,500) acts as dynamic support, with the price holding above this level. **Price Pattern Analysis** On the 4-hour timeframe, Bitcoin has formed a bullish flag pattern, recently breaking out from its upper boundary. This pattern typically signals a continuation of the uptrend. However, the breakout lacked significant volume, which may indicate weakness in the bullish move. Increased trading volume could strengthen the case for a push toward the $111,800 resistance. **External Factors and Their Impact** Despite recent geopolitical tensions, Bitcoin has maintained its key support levels, reflecting robust demand. However, traders should monitor fundamental news, as its impact can override technical analysis. **Conclusion** In the short term, Bitcoin is likely to experience a mild bullish trend, but the $111,800 resistance poses a significant challenge. Traders can consider buying near the $102,500 support with indicator confirmation. For short positions, a break below $102,500 could offer an opportunity. Risk management is crucial in this volatile market.