Bitcoin Market Trend Analysis 20250617

The hourly level has been fluctuating upwards, accelerating upward after the US stock market opened, reaching a high of around 108952 (Binance spot price). It started to decline rapidly around 5 AM and the current price has returned to the level at the US stock market opening.

The daily line shows a bullish candle with a long upper shadow, and the trading volume is about twice the average daily trading volume over the weekend, but still lower than the average daily trading volume on weekdays last week, indicating a lack of significant volume.

The daily MA30 line is still trending flat, and the MACD is transitioning from strengthening downward momentum to weakening downward momentum above the zero axis.

Today, there will be a slight adjustment during the day, but there is still momentum to continue moving upward in the evening as the US stock market opens.

The daily trend remains in a fluctuating upward state, with the target still around $110300; if it cannot break through, it will have to come down.

Currently, the price is near the daily MA30 line; if it stays above and remains on the line for three consecutive days, it may continue to rise; if it can't hold, it will continue to fall in search of support.

Daily level resistance is at 110300-120400-130000, and support is at 102700-97670-95860-93530.