Bitcoin Technical Analysis: Market Outlook on June 9, 2025

Technical analysis of Bitcoin on June 9, 2025, covering support/resistance zones, indicators, and market trends.

The technical analysis of Bitcoin on June 9, 2025, reveals a market in flux, influenced by both technical and macroeconomic factors. Bitcoin’s current price stands at approximately $104,888, reflecting a 2.84% increase from the previous day. However, signs of a short-term price correction are emerging, prompting traders to reassess their strategies. On the daily timeframe, Bitcoin remains within a long-term ascending channel, but a bearish flag pattern has formed on the 4-hour chart. This pattern typically signals a continuation of a short-term downtrend. Key resistance lies between $107,000 and $110,000, a zone where the price has struggled to break through recently. Conversely, strong support is observed between $100,000 and $103,500, which could act as a liquidity absorption zone. The Relative Strength Index (RSI) currently sits at 55, indicating neutral market conditions with a slight oversold bias. This RSI level suggests that selling pressure may intensify in the short term, particularly if the price drops below $104,500. Additionally, the 50-hour moving average is approaching the 200-hour moving average, potentially forming a bearish crossover (death cross) unless the price quickly recovers above $107,000. Trading volume has declined in recent days, signaling a weakening bullish momentum. Negative funding rates on some exchanges further indicate selling pressure in the futures market. However, on longer timeframes, such as the weekly chart, Bitcoin remains in a strong uptrend, with key support levels at $92,000 to $93,000 likely to prevent deeper corrections. From a price pattern perspective, there’s a potential double top formation near $111,794, which, if confirmed, could push the price toward $100,000. Conversely, a break above the $110,000 resistance could target $115,000 to $125,000. Macroeconomic factors, such as Federal Reserve decisions or U.S.-China trade negotiations, could also drive market volatility. Overall, traders should proceed with caution. For long positions, waiting for confirmation of support at $100,000 to $103,500 is advisable. For short positions, a break below $104,500 could present a short-term opportunity. Risk management, including setting stop-loss orders near $109,500 for short trades, is critical.