Bitcoin Market Trend Analysis 20250610

Yesterday's prediction was a decline to around 105200 followed by a weak rebound, and then a continued drop to seek larger support before rebounding. To our surprise, after the price fell and tested 105300, it started to surge upwards, breaking through $110000 again.

The daily chart closed with a large bullish candle, and the trading volume was more than double that of the weekend, consistent with the trading volume during the large bearish candle drop on June 5, indicating a strong upward trend.

The daily MA30 line is still trending flat, while the MACD shows weakening downward momentum below the zero line, with the fast and slow lines about to form a golden cross. If the fast and slow lines do cross, the daily level rebound will take effect, and the price is likely to rise further.

Accompanied by the large bullish candle, the price quickly broke through the daily MA30 line and the 4-hour downtrend line. The next target is to break the previous high and reach $120400.

After the morning close, there was a continued surge, followed by an hourly level pullback during the day, and then a continuation of the upward movement after the US stock market opened in the evening.

The daily level resistance is at 120400-130000, and the support levels are at 106000-101260-97670-95860-93410.