Bitcoin Price Bounces Past 105K: Is a Full-Blown Rally Back on the Cards?

Jun 9, 2025 04:00 am Cryptocurrency 80

Bitcoin price started a recovery wave above the $105,000 zone. BTC is now consolidating and might attempt to clear the $106,500 resistance.

Bitcoin started a recovery wave above the $105,000 zone.

The price is trading above $105,000 and the 100 hourly Simple moving average.

There is a bullish trend line forming with support at $105,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could start a fresh decline if it breaks the $104,000 support zone.

Bitcoin Price Restarts Increase

Bitcoin price started a fresh decline and traded below the $102,500 support zone. BTC even traded close to the $100,000 zone before the bulls appeared.

A low was formed and the price recovered above the $103,500 resistance. The bulls even pushed the price above the $105,000 resistance. A high was formed at $106,426 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $100,400 swing ..

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