Drop below $100k โ What does it mean for the week ahead?
๐ Weekly BTC Review (June 16โ22)
The week began with Bitcoin trading above $106k, continuing its bullish phase. However, from June 18 onward, a gradual decline set in, ultimately breaking below the psychological threshold of $100k.
๐ Key Highlights:
June 16: Weekly high near $107k
June 18โ20: Stabilization around ~$104โ106k
June 21โ22: Sharp drop toward ~$99.1k
๐ Analysis via Coinglass
The futures market revealed critical data:
Over $600M in long liquidations
Positive funding rates, indicating the majority of traders remained long
Open Interest remains high (~$72B), reflecting strong capital involvement
โก๏ธ Together, these point to an overleveraged market that triggered the correction.
๐ Technical Data & Formations
The "cup and handle" pattern remains active in larger timeframes
In the short term, a downtrend is visible with lower highs
RSI is trending downward
The $100kโ104k zone now acts as a critical support region
๐ฎ Outlook for the Coming Week (June 23โ29)
ScenarioDescriptionBearish
๐ด Continued decline toward $96kโ$90k if $100k breaks cleanlyBullish
๐ข A rebound and breakout above $106k could trigger a rally to $110kโ$115kMacro
๐ The active โcup & handleโ may target $160kโ$168k over a longer period
๐ Key Factors to Watch
Market behavior around the $100k threshold
Funding rates & Open Interest on Coinglass
ETF inflow news & macroeconomic risk
Sentiment analysis of the broader market
โ๏ธ Final Thought
Bitcoin is being tested both technically and psychologically. The break below $100k is significant but not definitive. The upcoming week will reveal whether this is a healthy correction โ or the beginning of a deeper decline.
๐ฃ Whatโs your view? Will we see a bounce or new lows ahead?
๐ฌ Share your thoughts in the comments or repost with your take!
#bitcoin #CryptoTradingInsights #BTCAnalysi #writetoearn #MarketUpdates"
