Fun

Bitcoin Consolidating Below $108,000 But Eyes $115,000 Target

News Feed - 2025-06-30 02:06:37

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.


Bitcoin’s price action has been relatively stable in recent days,currently trading just above $107,000 after briefly touching previous highsnear $108,000. 


Amid this backdrop, technical analysis from a popular crypto analyst on the TradingView platform outlined a compellingstructural setup forming on Bitcoin’s daily chart. The analysis shows that Bitcoin’s action is in a compression phase that could precede a breakout to $115,000 very soon. Related Reading Stablecoin Skepticism Grows As IMF Official Challenges Their Money Role 1 day ago Compression Structure Forming Below $108,000 Resistance


Bitcoin’s price action is currently following movements in traditional risk assets like the S&P 500 and Nasdaq, both of which have recovered following the recent de-escalation ofgeopolitical tensions in the Middle East. Against this backdrop, crypto analyst RLinda shared an outlook on TradingView that highlights a structural setup forming on the D1 chart and predicts a breakout to as high as $115,000 if some resistance levels are cleared. 


According to RLinda, Bitcoin is in the middle of a compression phase just below the $108,100 resistance level. This follows what the analyst describes as a false breakout above $100,000, which led to a brief distribution and now an active accumulation zone. The daily chart shows price action gradually tightening within the $106,500 to $108,100 range since June 25, the essence of which the analyst called a pause for a breather before a possible continuation of growth.  BTCUSD currently trading at $108,505. Chart: TradingView


The current setup has already established well-defined boundaries, with support at $106,500 and $108,100 as immediate resistance. A breakout above this immediate resistance would pave the way for the next resistance around $110,400 and bring Bitcoin within striking distance of its all-time high at $111,000. On the other hand, a short-term pullback toward $105,650 is still possible before a new move to the upside.


Bitcoin Price Levels To Watch


Bitcoin’s price action is really pressing on thisresistance level around $108,000 and is building momentum for a breakoutonce the price level gives way. The key resistance levels to monitor are stacked around $108,100, $108,900, and $110,400. As long as the structure between $106,500 and $108,100 holds, and Bitcoin’s price is sticky near the top of that zone, the breakout scenario becomes increasingly probable.


Although there are currently no reasons for a decline on the daily and weekly candlestick charts, the analyst noted that a temporary pullback to $105,650 or even $104,650 cannot be ruled out.However, even such a pullback would likely only serve as a retest but still keep the broader setup intact.  Related Reading The $100K Mirage: Bitcoin’s Rally Not Backed By On-Chain Strength 1 day ago


At the time of writing, Bitcoin is trading at $107,457, up by 0.5% in the past 24 hours. The breakout trigger is still at $108,100. If broken, Bitcoin could easily move to new highs around $115,000. 


Featured image from Unsplash, chart from TradingView

News Feed

Linkin Park’s Mike Shinoda Auctions his First Non-Fungible Token
Linkin Park’s Mike Shinoda Auctions his First Non-Fungible Token Musician Mike Shinoda, guitarist and founding member of the American rock band Linkin Park, ha
Largest US Banks Expect Billions in Loan Losses, Profits Plunge
Largest US Banks Expect Billions in Loan Losses, Profits PlungeSeveral of the largest U.S. banks have set aside billions of dollars in reserves as they expect massive losses from lo
Popular Radio Presenter Suspended for Alleged Ties to Bitcoin Scam
Popular Radio Presenter Suspended for Alleged Ties to Bitcoin Scam South Africa’s national broadcaster has suspended one of its employees that is accused of convincing unsus
Litecoin Fails To Break Key Resistance Level Again – Can Bulls Hold Range Lows?
Este artículo también está disponible en español. Litecoin has faced a massive drop as the entire crypto market experiences intense selling pressure. Increased volatility
Helen Partz14 hours agoFTX founder’s parents sued, accused of stealing millions from crypto exchangeAccording to the allegations, Sam Bankman-Fried’s father, Joseph Bankman, was a “de facto officer” at FTX Group.
Coinbase Shutting Down Most Crypto Services in Japan After Series of Job Cuts Globally
Coinbase Shutting Down Most Crypto Services in Japan After Series of Job Cuts Globally The Nasdaq-listed cryptocurrency exchange Coinbase is closing down most of its operations in
Treasury Secretary Janet Yellen Warns Gas Prices Could Spike This Winter — Says ‘It’s a Risk’
Treasury Secretary Janet Yellen Warns Gas Prices Could Spike This Winter — Says "It"s a Risk" U.S. Treasury Secretary Janet Yellen has warned that gas prices could rise again thi
Ezra Reguerra13 hours agoARK Invest and 21Shares partner to launch digital asset ETF suiteFive digital asset ETF products will be listed on the Chicago Board Options Exchange and start trading next week.1490 Total views2
World-Famous DJs Paul Oakenfold, Carl Cox, Paul Val Dyk Spin and Crossfade Into the NFT Universe
World-Famous DJs Paul Oakenfold, Carl Cox, Paul Val Dyk Spin and Crossfade Into the NFT Universe While celebrities and athletes have been jumping into the non-fungible token (NFT)
OneCoin Founder’s Brother Faces 90-Year Jail Term After Plea Deal
The Department of Justice (DOJ) reached a plea deal with Konstantin Ignatov for his involvement in OneCoin Ltd., a cryptocurrency project based out of Bulgaria. Ignatov pleaded guil
Yashu Gola9 hours agoHow high can Bitcoin price go by 2024?Historic price fractal, strong technicals and Bitcoin ETF approval euphoria could keep BTC prices elevated for the rest of 2023.6772 Total views21 Total sharesLi
Bitcoin Price Suppression Below $100,000 Worries Investors, JPMorgan Analysts Reveal Real Problem
Este artículo también está disponible en español. Bitcoin’s price rally may be under threat as it continues to trade under$100,000. According to analysts at JPMorga