Bitcoin’s price continues to hover nearly $105,000, indicating its resilience to the volatility of the broader market. However, the Bulls and Bear fight remains unresolved as momentum indicators flash the mixed signal.
What will happen to Bitcoin prices?
BTC price dynamics (Source: TradingView)
As of June 18th, today’s Bitcoin price is held at around $104,950 after bounces off the main short-term demand zone of nearly $104,400. This support is within the green structure established on the 4 hour and daily charts. Recent rejections from the $107,000 region show that sellers are actively defending the lower part of the symmetrical triangle seen in multiple time frames.
Why are Bitcoin (BTC) prices falling today?
Bitcoin prices have been slightly immersed today, affected by the confluence of technical and volume-based signals. In the four-hour time frame, price action failed to outweigh the downward trend resistance, nearly $107,000. This zone is consistent with 50 EMAs and capping upward attempts.
BTC price dynamics (Source: TradingView)
The 30-minute chart MACD suggests that it flips over after a bullish wave, suppressing its upside-down momentum. The RSI also rolls down near neutral 50 levels, hinting at a potential daytime pullback.
BTC price dynamics (Source: TradingView)
Volumes do not support breakouts. KlingerOcsillator and obv show divergence and distribution pressure in 4 hours.
BTC price dynamics (Source: TradingView)
Smart Money Concepts (SMC) shows that Bitcoin is under the influence of previous liquidity grabs and internal chocks within the $106,800-107,300 supply zone. In this range, we saw repeated equal highs and fluidity induction, which were wiped out, but the subsequent destruction of the true bullish structure did not follow. Bitcoin is even more vulnerable to the downside, as uncollected sellside liquidity is still below $103,200.
On the four-hour chart, the recent structural break (BOS) has already occurred under $104,600, with the latest price rebounds responding to mitigation blocks rather than fresh bullish impulses. It is likely that smart money remains in circulation mode with price exceeding $107.2K.
BTC price dynamics (Source: TradingView)
Complementing this, it reveals the volatility of the Donquian Channel (DC) expanding over a 4-hour time frame. The top and bottom bands are narrower, indicating that the price is compressed into a volatility narrower. The median band (base) has decreased slightly and is now rejected by the midline, nearly $106,100. Historically, these compressions precede breakout expansions, but the current Lean is slightly bearish, given an orderly flow and a weak bullish follow-through.
Chande’s momentum oscillator, on the other hand, is -49, reinforcing the notion of short-term bearish tilt as the Bulls struggle to regain their liquidity pockets of $106,200-106,800.
EMA Resistive Clusters and SAR Bias Enhance Short-Term Pressure
BTC price dynamics (Source: TradingView)
Bitcoin prices today face continuous rejection under a dense EMA cluster of four-hour charts. The 20, 50, and 100 EMAs converge into a tightly-held resistance block at around $106,100, $106,120 and $105,800 respectively. These moving averages slop below, forming a dynamic ceiling that currently holds the price action below.
Historically, when this EMA stack is compressed in downtrends, it acts as a powerful barrier, limiting the upward core and pushing prices back into a low liquidity pool. The cluster is bolstering recent denials from the $106,400 zone.
Additionally, the parabolic SAR continues to print dots on top of the candle for four hours, indicating that the downward momentum remains intact. Even after the recent bounce from $104,400, the SAR has not been flipped over to the bottom, suggesting that buyers have not seized trend controls. The bull remains structurally on the sidelines until the candle closes and flips the SAR, supporting it and price regains EMA 100.
BTC Price: Important technical level to watch
BTC price dynamics (Source: TradingView)
From a price structure perspective, Bitcoin is currently trading within the larger upward channels of the daily chart. The channel’s centerline is close to $109,000, but the lower limit extends to the $95,800 support zone, working with the weekly bull market support band.
- Immediate resistance: $106,200, $107,300
- Support for the following: $104,400 (minor), $103,300
- Key drawback support: $99,500 and $94,000
- Breakout confirmation: Over $107,800 in volume
Additionally, the SMC chart follows recent chocks followed by liquidity sweep, pointing to potential accumulation, but confirmation is pending.
Bitcoin price updates and forecast outlook
BTC price dynamics (Source: TradingView)
From a trend context perspective, Bitcoin price action remains limited within the medium-term compression structure. Breakouts from this symmetrical triangle, especially with strong volume, can ignite directional movement. However, volatility is suppressed because the Bollinger Bandwidth (BBP) is still tight.
BTC price dynamics (Source: TradingView)
Bullish ineffective levels are clearly defined at $103,200, and a breakdown below this would open a deep target at $99,000 or $96,000 based on historical demand clusters. Conversely, a bullish recovery of $107,800 could trigger a sudden move to $110,000, and ultimately an extension of resistance of $114,000.
Bitcoin (BTC) Price Prediction Table
Disclaimer: The information contained in this article is for information and educational purposes only. This article does not constitute any kind of financial advice or advice. Coin Edition is not liable for any losses that arise as a result of your use of the content, products or services mentioned. We encourage readers to take caution before taking any actions related to the company.
