Bitcoin‘s price rose to $107,392 today, pushing its market cap past $2,12 trillion and its 24-hour trading volume to $19,68 billion. Trading within an intraday range of $105,112 to $107,499, Bitcoin demonstrated strong short-term bullish momentum, as confirmed by several technical indicators and timeframes.
The hourly chart reflects a breakout scenario from consolidation, marked by a sudden surge in bullish momentum. After several days of sideways movement from June 6 to June 8, Bitcoin surged higher on the 9th. The prevailing momentum suggests further gains, with the next psychological resistance at $108,000 and then $110,000.
BTC/USD Hourly Chart for June 9, 2025
The 4-hour chart signals a classic V-shaped recovery supported by strong bullish volume as Bitcoin bounced sharply off the $100,426 support level. The move broke through previous resistance levels and momentum favors further gains, especially if price action can hold above $107,500.
The breakout candle reflects strength and confidence from buyers, but traders should keep an eye on the $109,500 to $110,000 range for potential exits.
4-hour chart of BTC/USD for June 9, 2025.
From a broader perspective, the daily chart reflects a recovery phase after the fall from the $112,000 level. Bitcoin has found strong support around $100,000 and is showing bullish candlestick formations, albeit with reduced but gradually increasing volume.
The price is approaching local resistance near $108,000, and a daily close above this level could pave the way for a retest of $112,000.
BTC/USD daily chart for June 9, 2025.
The oscillators are showing a mostly neutral sentiment with the Relative Strength Index (RSI) at 58 and the Stochastic at 56. The Commodity Channel Index (CCI) and Average Directional Index (ADX) are also showing neutrality. However, the momentum is showing a buy signal at 3335, suggesting bullish pressure. The Moving Average Convergence Divergence (MACD) level at 879 remains bearish, indicating caution among traders.
The moving averages are reinforcing the bullish tone, with all major exponential and simple moving averages from 10 to 200 periods flashing bullish signals. The 10-period exponential moving average (EMA) and simple moving average (SMA) are at $105,591 and $105,118, which are significantly lower than the current price.
The longer term EMA and SMA continue to show strength, with the 200 period EMA and SMA at $91,916 and $95,352. This strong price alignment above all key moving averages supports continued upside unless there is a sudden change in sentiment.
