Bitcoin (BTC) has snapped its two-week losing streak, rebounding from a low of $100,200 to trade above $107,600. This upward shift follows BTC’s decisive break through a multi-week descending trendline on the 4-hour chart, a move that technical traders view as a short-term momentum reversal.
What triggered the move? A bullish engulfing candle pierced through $106,800, a key resistance level now acting as short-term support. Additionally, BTC is posting higher lows, forming a textbook bullish pattern.
The Relative Strength Index (RSI) stands at 66.76, suggesting the current rally is gaining strength but is approaching overbought territory. The next critical resistance is $108,905. If that breaks, Bitcoin price prediction could target $110,565 and even $111,987 in a bullish continuation.
Smart Money Eyes $103,700 and $95,600
Beyond the technicals, on-chain metrics are painting a clear picture of where smart money is watching. According to Glassnode‘s Spendable Supply Distribution (SSD), 95% of all circulating BTC was purchased at a price below $103,700. That level now acts as a psychological and statistical floor, which analysts often refer to as “cost-basis support.”
Another critical level lies at $95,600, where 85% of the Bitcoin supply has a lower acquisition price. These quantile thresholds create “value zones” where institutional and long-term investors are likely to step in and defend the price.
If Bitcoin pulls back from current levels, expect these two price areas to serve as buffers before any deeper correction.
Key Support Zones:
- $103,700: 95% SSD threshold
- $95,600: 85% SSD cost basis
- $106,800: Trendline retest zone
Bitcoin Outlook: Bullish Setup with Short-Term Caution
Despite increased pressure from long-term holders (LTHs) taking profits, historical data signals that June is usually favorable for Bitcoin. The median monthly return stands at +2.58%, signaling that the current rebound may still have legs.
Traders should, however, approach the current setup with discipline. The breakout just above $106,800 is promising; however, a failed break over $108,905 could lead to a solid retracement.
The relative strength index (RSI) levels signal a cooldown that might be needed before bulls can clear the next hurdle.
Trade Idea:
- Entry: Wait for a confirmed 4-hour close above $108,905
- Stop-loss: Place below $106,800
- Target 1: $110,565
- Target 2: $111,987
- Note: Avoid entering prematurely; RSI is approaching overbought
In short, smart money is tracking both the $103,700 and $95,600 zones for value, while the breakout structure signals a bullish bias, provided BTC holds its ground
Bitcoin Hyper Presale Hits $821K—Layer 2 Just Got a Meme-Sized Upgrade
Bitcoin Hyper ($HYPER) is taking off as the first Bitcoin-native Layer 2, combining speed, scalability, and meme culture. Built to fix Bitcoin’s most significant flaws—slow transactions and high fees—it leverages the Solana Virtual Machine (SVM) to bring fast, low-cost smart contracts to the BTC ecosystem.
With over $821,823 already raised, early adopters are betting big on its blend of tech innovation and meme appeal.
Core Features That Set It Apart
What makes Bitcoin Hyper different? It’s the only Bitcoin-based Layer 2 that combines the speed of SVM with the security of BTC’s base layer. The Canonical Bridge allows seamless BTC transfers, while low-cost gas fees and high-speed execution empower dApps, meme coins, payments, and more. Audited by Consult, it’s built for speed, trust, and scale.
Staking Rewards and Utility
$HYPER isn’t just a token; it powers the ecosystem. Users can stake it for high APY rewards post-launch, use it for gas fees, and access premium decentralized applications (dApps). Plus, active holders can earn bonuses via governance and early adoption initiatives. That’s real utility in a meme-capable package.
Presale Now Live—Don’t Miss the Price Jump
The public presale is now live, with 1 $HYPER priced at $0.011825. Over 90% of the funding goal has already been raised. Early buyers lock in the price at this stage before the next tier is introduced. Buy with crypto or card, no wallet? No problem. Web3Payments is integrated for a seamless checkout.
The post Bitcoin Price Prediction: Smart Money Is Watching These Two Levels – Are You? appeared first on Cryptonews.
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