BTC Strong Reversal! 103800 resistance turns into support, 106000 becomes the new battlefield for bulls and bears
Bitcoin made a strong rebound after a dip last night, and the so-called second test has reached its mark? In yesterday's analysis, Sheng Jie also mentioned that to continue the downtrend, the price should not exceed 103800. The subsequent rally has strongly broken through that level, with the high reaching around 106000!
News:
Ceasefire in the war (seems not to be the main reason), combined with the Fed hinting at a rate cut in July, spot capital flow is driving the rise. The current upper pressure is in the range of 106800-107000 on the chart. Only by breaking through here can we expect Bitcoin to make another strong rise and aim for new historical highs. On the downside, pay attention to the support around 103800, as the previous resistance has now turned into support. If it breaks below this level, we could see a new downtrend!
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BTC Analysis: June 24, 2025 daily chart
