Published: June 21, 2025, 20:48 WIB
Bitcoin is currently facing pressure, trading at $103,891 and still holding on—at least for now. The daily chart shows a bearish double-top pattern, a technical formation that has historically been associated with significant corrections, such as the 30% drop in 2021 following a similar pattern. This pattern indicates a potential trend reversal if support levels fail to be maintained.
Adding complexity, the Moving Average Convergence Divergence (MACD) indicator provides mixed signals: sell signals on momentum contradicting buy signals, reflecting market uncertainty reminiscent of the bearish market conditions of 2022 following the collapse of Terra Luna. Traders are monitoring key support levels at $102,000, where on-chain data shows increased whale activity, signaling potential institutional moves.
Globally, geopolitical tensions and indications of interest rate adjustments contribute to this uncertainty, while at the regional level, crypto adoption in Indonesia—with 17 million users by 2025—could influence price dynamics, especially in the context of the current WIB time zone. As the market stands on the edge, all eyes are on whether Bitcoin can maintain its line or face a deeper correction.
Stay tuned for further updates as the situation develops.$BTC