According to market analysis on June 23, 2025, BTC began to rebound after dipping near the first support level during the night, indicating that the position around 98200 has temporarily held. However, the current trend of Bitcoin still has uncertainties, and investors need to approach cautiously.
Technical analysis
- The importance of the 120-day line: The 120-day moving average is an important bull-bear dividing line in the Bitcoin daily chart. In past bull markets, there have been very few instances where Bitcoin's price has dropped below this line, occurring only during the 2021 519 event and currently.
- Pullback and support: A pullback refers to a rebound after the price touches a support level during a decline. Bitcoin's pullback to the 120-day line may indicate the end of a short-term adjustment if strong support and rebound occur at this position. However, if the 120-day line fails to hold, the price may continue to decline.
Subsequent trends
- Short-term rebound: If Bitcoin can stabilize above $100,410, a rebound might begin at the 1-2 hour level, with resistance levels around $101,700-$102,755-$103,945.
- Long-term trend: This week, the weekly level should focus on the $100,000 position; if it can hold steady, the weekly level will still be in a bullish trend.