Bitcoin is attempting a historic weekly close above $108,890 after rebounding from March lows and reclaiming strength above $100,000.
A base is forming near the $108,200 zone as strong buyer activity and investor interest sustain upward momentum despite recent volatility.
Bitcoin's range between $72,000 and $112,000 reflects classic crypto cycles as it eyes a breakout from a strong consolidation phase.
According to Crypto analyst Rekt Capital analysis, Bitcoin is trading near a pivotal level, attempting a historic weekly close above $108,890 resistance. The digital asset surged in November 2024, sparking bullish momentum that carried into December. Prices moved from around $72,000 to above $112,000 in just a few weeks. This rally is Bitcoin’s strongest upward move since early 2021.
Source: Rekt Capital
However, the rally cooled down at the start of 2025. In January, Bitcoin began to consolidate near $100,000. February introduced selling pressure, forcing the asset to retreat from its highs. Consequently, March saw a sharp correction, with prices falling to $76,000. This drop represented a 22% decline from February levels.
Bitcoin Regains Strength Above $100,000
April initiated a recovery phase. Bitcoin rebounded above $85,000 and held this level for several weeks. The upward momentum continued into May and early June. Bullish candles dominated, helping Bitcoin reclaim above the $100,000 psychological level. Additionally, trading volume supported the reversal, suggesting strong demand at lower price zones.
Bitcoin reached a brief high of more than $111,000 during the middle of June. The resistance level at this point proved too strong for the price to maintain. The market displayed profit-taking and uncertainty through a weekly bearish candle pattern. The price maintained its position near $108,200 throughout that period. The cryptocurrency demonstrated recovery signals by attempting to exceed the $108,890 resistance level.
Volatility Persists Within a Broader Uptrend
The trading range between $72,000 and $112,000 highlights continued volatility. These large price swings mirror rypto cycles of boom and correction. Moreover, market structure shows alternating periods of strong expansion and steep retracement.
Source: Rekt Capital
Currently, Bitcoin is building a base around late-May support, which aligns with mid-June resistance. This confluence zone could determine the next directional move. Besides, sustained engagement from both retail and institutional investors keeps momentum alive.
The latest weekly candlesticks show mixed signals, reflecting indecision near major resistance. However, buyers appear active, preventing deeper pullbacks. Consequently, a close above $108,890 could ignite a fresh rally.
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