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Coin Edition 2025-06-15 13:02:29

Bitcoin (BTC) Price Prediction for June 16 2025: Can BTC Hold the $104K Pivot Amid Bearish Pressure?

Bitcoin (BTC) Price Prediction for June 16 2025: Can BTC Hold the $104K Pivot Amid Bearish Pressure?

The Bitcoin price today is struggling to stay above the $105,000 mark after rejecting lower support near $104,200. The latest daily structure shows BTC trapped in a corrective flag formation, while the broader trend remains intact above key higher-timeframe Fibonacci levels. What’s Happening With Bitcoin’s Price? BTC price dynamics (Source: TradingView) Following the June 13 breakdown below $106,000, the Bitcoin price has been consolidating in a narrowing range, with resistance at $106,000 and support at $104,000. On the daily chart, BTC is sitting at the 0.5 Fibonacci retracement level ($105,485), trying to form a higher low above the 0.618 zone near $104,291. Price action remains neutral, though the latest candles suggest indecision. BTC price dynamics (Source: TradingView) The 4-hour chart shows BTC bouncing within a micro-channel, caught between demand at $103,150 and resistance near $105,400. The volume profile indicates major interest clustered between $104,200 and $105,800, where Bitcoin has been ranging throughout the week. Bitcoin Price Action Faces Resistance From Cloud and EMA Cluster BTC price dynamics (Source: TradingView) BTC continue… The post Bitcoin (BTC) Price Prediction for June 16 2025: Can BTC Hold the $104K Pivot Amid Bearish Pressure? appeared first on Coin Edition .

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