NewsBTC
Jun 28, 2025
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Bitcoin Forms Inverse Head and Shoulders Pattern, Key Resistance at $112K

Bitcoin Resilience and Market Dynamics

  • Bitcoin is holding above $105,000 amidst volatility and economic uncertainty.
  • Current resistance is near $112,000, with a consolidation phase ongoing.
  • Weak global growth and high inflation are driving investors towards safer assets.
  • Analyst Carl Runefelt identifies a potential inverse head and shoulders pattern, signaling a bullish reversal.
  • Market sentiment is building as Bitcoin trades between $100,000 and $110,000.

Critical Price Levels

  • Bitcoin's current price is $107,144, facing resistance near $109,300.
  • The price range of $103,600 to $109,300 has been stable for nearly two months.
  • Bulls have regained control over key moving averages: 50-day, 100-day, and 200-day SMAs.
  • A breakout above $109,300 could enable new all-time highs.
  • A drop below $105,000 may lead to bearish pressure and a retest of lower support levels.

Market conditions remain crucial for determining Bitcoin's trajectory in the coming weeks.