Bitcoin has broken a two-week losing streak, recovering from a low of $100,200 to trade above $107,600. This bullish shift occurred after BTC decisively broke through a multi-week downtrend line on the 4-hour chart, a move that technical traders view as a short-term momentum reversal.
What drove this move? A bullish engulfing candle broke through the $106,800 level, a key resistance that is now acting as short-term support. Additionally, BTC is recording higher lows, forming a textbook bullish pattern.
The Relative Strength Index (RSI) is at 66.76, indicating that the current price surge is gaining strength but is approaching overbought territory. The next key resistance level is $108,905. If this level is broken, Bitcoin price predictions may target $110,565 and even $111,987 in a continued bullish surge.
Smart Money Targets $103,700 And $95,600
In addition to technical factors, on-chain metrics are painting a clear picture of where smart money is tracking. According to Glassnode's spendable supply distribution (SSD), 95% of the total circulating BTC was purchased at prices below $103,700. That level now acts as a psychological and statistical threshold, which analysts often refer to as "Cost Basis Support."
Another significant level is at $95,600, where 85% of Bitcoin supply has a lower purchase price. These percentile thresholds create a "value zone" where institutional and long-term investors are likely to step in and defend the price.
If Bitcoin drops from the current level, expect these two price zones to act as buffers before any deeper corrections.
Key support zones:
$103,700: 95% SSD threshold
95,600 dollars: 85% SSD cost basis
106,800 dollars: Trendline retest zone
Bitcoin Outlook: Bullish Setup With Caution in the Short Term
Despite increasing pressure from long-term holders (LTH) locking in profits, historical data shows that June is typically favorable for Bitcoin. The average monthly return is +2.58%, suggesting that the current recovery may still have legs.
However, traders should approach the current setup with discipline. A breakout just above $106,800 is very promising; however, a failed breakout above $108,905 could lead to a solid pullback.
The Relative Strength Index (RSI) signals that a cooling off may be necessary before the bulls can break through the next barrier.
Trade idea:
Entry: Wait for a confirmed 4-hour close above $108,905
Stop loss: Set below $106,800
Target 1: $110,565
Target 2: $111,987
Note: Avoid entering too early; RSI is approaching overbought levels
In summary, smart money is watching both the $103,700 and $95,600 zones for value, while the breakout structure signals a bullish trend, provided BTC maintains its stance.
Bitcoin Hyper Presale Hits $821,000—Layer 2 Just Got A Meme-Size Upgrade
Bitcoin Hyper ($HYPER) is taking off as the first native Bitcoin Layer 2, combining speed, scalability, and meme culture. Built to address Bitcoin's most significant flaws—slow transactions and high fees—it leverages the Solana Virtual Machine (SVM) to deliver fast, low-cost smart contracts for the BTC ecosystem.
With over $821,823 raised, early adopters are betting big on the combination of technological innovation and meme appeal.
Core features that make it stand out
What makes Bitcoin Hyper unique? It is the only Bitcoin-based Layer 2 that combines the speed of SVM with the security of the BTC base layer. The Canonical Bridge allows for seamless BTC transfers, while low gas fees and high execution speed support dApps, meme coins, payments, etc. Audited by Consult, it is built for speed, reliability, and scalability.
Staking Rewards and Utility
$HYPER is not just a token; it powers the ecosystem. Users can stake to earn high APY rewards post-launch, use it to pay gas fees, and access premium decentralized applications (dApps). Additionally, active holders can earn rewards through governance initiatives and early adoption. It's real utility in a meme-capable package.
The presale is currently ongoing—Don't miss the price surge
The public presale is currently underway, with 1 $HYPER priced at $0.011825. Over 90% of the funding target has been raised. Early buyers will lock in the price at this stage before introducing the next level. Buy with cryptocurrency or card, no wallet? No problem. Web3Payments is integrated for seamless payments.