Bitcoin Update — June 23, 2025 #bitcoin #analysis

*Despite the declines, Bitcoin maintained a weekly close above 100,000*

■ *Current Situation:*

The price has started to form a *descending sub-channel,* tested the lower bound of the channel, and is currently moving within the resistance range *(103,531 — 101,324)* after *a weekly close at (100,949).*

If it surpasses this range and holds above it, it will retest the resistance *(108,000 — 106,000),* and if it breaks through, we may see (120,000) then (157,000).

In case of failure to break through (106,000 — 108,000), it will attempt to test the current support at (96,498 — 94,231).

■ *Initial Targets:*

*First* target: 106,000 — 108,000 *(+4.0% to +6.9%)*

*Medium* target: 120,000 *(+17.7%)*

*Long-term* target: 157,000 *(+54.0%)*

■ *Current Support:*

(96,498 — 94,231) (−5.3% to −7.5%)

■ *Conclusion*:

The price is moving within a descending channel and is currently facing strong resistance.

Breaking the resistance and holding above it means breaking the channel and starting an upward wave toward higher targets.

Failure to break could push the price to test the main support levels again.