![[Breaking] Bitcoin Nears $106,700 – Is a Rebound Trend Starting?](https://fixiomarkets.com/storage/Article/3A9uLuWr5hXz9WrSELa1OniiwbBBLs3fV6kPLAUL.jpg)
As of June 16, 2025, BTC/USD (Bitcoin/US Dollar) has emerged from its post-drop correction phase and is showing signs of a rebound on the 1-hour chart. The key level of $106,700 is now in sight, and whether this resistance can be broken will be critical in determining a potential trend reversal.
This analysis utilizes technical analysis to provide a detailed look at moving averages (MA), MACD, ADX, and volume trends, outlining key points for short-term trading strategies.
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Bitcoin's price is approaching the 200-period SMA (red line) at $106,629, which is being viewed as short-term resistance. Meanwhile, the short-term MA (blue line) is acting as support, underpinning the current rebound.
A clear breakout above the 200 SMA may serve as a signal of trend reversal, potentially opening room for further gains. For more on moving averages, refer to this link.
The MACD line (yellow) is above the signal line (red), with the histogram in positive territory. This setup suggests a recovery in bullish momentum, indicating the current rise may be more than a temporary rebound.
MACD is a particularly useful indicator for timing short-term trades. Learn more about momentum here.
ADX has risen to around 50, indicating a strong and clear trend in the market. For trend-following traders, a rising ADX supports maintaining long positions.
Although there's no sharp increase in volume yet, the steady price action is a positive sign. A breakout accompanied by rising volume would offer a more reliable entry signal.
| Level | Price | Meaning / Rationale |
|---|---|---|
| Immediate Resistance | $106,700 | Matches 200 SMA, previous bounce point |
| Next Target | $107,500 | Psychological milestone, range top |
| Short-Term Support | $105,500 | Recent pullback zone |
| Medium-Term Support | $104,200 | High-volume area, previous low |
BTC/USD is currently testing the 200 SMA, and in the short term, buying on dips appears favorable. Both MACD and ADX signal continued bullish momentum, suggesting a high likelihood of trend continuation.
However, even with a bullish technical setup, overconfidence should be avoided. Be prepared for reversals at key levels, and employ stop-loss or trailing stops for flexible risk control. Especially at $107,500, watch out for profit-taking pullbacks.
If you want to read more analysis on FX, cryptocurrencies, commodities, and more, check out the official Fixio blog. It offers professional market reports, trading strategies, and breakdowns of key economic indicators to support your trading decisions.
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Disclaimer: This article is for informational purposes only and does not constitute a recommendation to buy or sell any specific financial product. Please make investment decisions at your own risk.
This article is based on technical analysis of the BTC/USD 1-hour chart and is intended for informational purposes only. Investment decisions should be made at your own discretion and with appropriate risk management.
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