Bitcoin sustained higher moves after defending the anchored VWAP near $104752 and formed clean breakout structure.
The current trend shows a strong upward path as BTC climbed above two zones that had capped recent gains.
Price action remains bullish as bulls reclaim key levels and now attempt to turn resistance into support zones.
Bitcoin bulls launched a decisive move early on June 16, lifting prices above $106,000 and approaching a major technical resistance zone. The rally comes after BTC held above its anchored VWAP, which has acted as a dynamic support since the June 13 rebound. As bulls build momentum, the market now eyes two key breakout levels that could shape near-term price direction.
Source: X Two Breakout Zones Now in Focus
The chart shared by analyst Caleb Franzen marks two crucial ranges for Bitcoin: a green zone between $106,000 and $106,400, and a blue support range just below that. Bitcoin’s price recently pierced the top of this structure after a sustained formation of higher lows and higher highs over multiple sessions.
This pattern suggests growing strength among bulls, who have steadily regained control since the June 13 bottom. That day saw BTC bounce strongly off the AVWAP line, now hovering around $104,752, as illustrated on the 30-minute Coinbase chart.
Historically, holding above the AVWAP indicates bullish conviction. This particular AVWAP has remained intact through recent downside wicks, further validating its support role. Bitcoin now trades above both the blue and green marked ranges, which had previously capped gains for nearly three days.
The recent breakout invites speculation: Will the current resistance zones now turn into strong support levels for the next leg up?
Strong Technical Structure Supports Price Action
Bitcoin's recent move follows a textbook ascending triangle structure. Over three days, price compressed against horizontal resistance, forming consistent higher lows while testing the $106,000 ceiling multiple times. The triangle’s upper limit aligns closely with the lower green range around $106,000.
Once this level was breached, Bitcoin quickly surged past $106,400, the upper limit of the marked green zone. This level had acted as resistance during each of the past retests.
The structure also illustrates the importance of dynamic levels. The anchored VWAP from the June low has underpinned every local dip, guiding Bitcoin steadily higher. Such a setup strengthens the bullish bias, with the AVWAP serving as a real-time sentiment barometer for institutional and retail players.
Market watchers now anticipate whether Bitcoin can convert the current breakout into a sustainable move or whether further consolidation is required. Either outcome may depend on upcoming volume strength and reactions at these pivotal technical ranges.
Traders Urged to Focus Beyond Headlines
Amid ongoing macroeconomic noise, the technical chart suggests a clear path forward based on price structure and trader behavior. Caleb Franzen notes that the bullish trend remains intact as long as Bitcoin maintains its series of higher highs and higher lows.
The recent breakout comes as traders attempt to reclaim the $107,000 zone, a psychologically important level that may attract new participation. While market sentiment often fluctuates with headlines, the present structure provides a more grounded roadmap for price action.
Franzen’s analysis encourages traders to remain focused on chart dynamics rather than shifting narratives. As long as Bitcoin continues to respect key levels and structure, upward momentum may remain favored.
With BTC nearing $107,000, all eyes now turn to whether this latest surge has enough strength to establish new support and continue its ascent.
