12 June 2025,05:43
Chart The Market
12 June 2025, 05:43
BTC, H4:
Bitcoin has pulled back more than 2% from its recent peak near the $110,000 level, unable to gather sufficient momentum to test its all-time high above $112,000. The cryptocurrency now approaches a critical pivot point around $107,000, which will serve as a key test for market direction.
A strong rebound from the $107,000 support would signal continued bullish strength, potentially setting the stage for another attempt at record highs. However, failure to hold this level could disrupt BTC’s bullish structure and shift near-term bias to the downside.
Momentum indicators currently suggest weakening buying pressure, with the RSI retreating from overbought territory and the MACD forming a bearish crossover. These signals point to potential further consolidation or retracement in the near term.
The coming sessions will be crucial in determining whether this pullback represents healthy profit-taking within an ongoing uptrend or the beginning of a more significant corrective phase. Traders should watch for either confirmation of support at $107,000 or signs of accelerating downward momentum.
Resistance Levels: 111,745.00, 117,200.00
Support Levels: 106,550.00, 102,400.00
USOIL, H4
Oil prices surged over 10% in June, gaining strong upward momentum after decisively breaking out of a previous downtrend channel—a technical development that confirms a shift to bullish market sentiment. The rally accelerated in recent trading, with prices reaching a two-month high of $68.99 per barrel, putting the psychologically significant $70.00 resistance level within striking distance.
The technical picture continues to strengthen, with momentum indicators flashing bullish signals. The Relative Strength Index (RSI) has entered overbought territory, while the Moving Average Convergence Divergence (MACD) continues trending higher—both suggesting sustained buying pressure that could potentially drive prices through the critical $70.00 resistance. A clean break above this level would likely trigger additional buying interest and confirm the next leg higher in the current uptrend.
With bullish technical factors aligning and no immediate signs of exhaustion in the rally, market participants are now watching whether prices can maintain enough momentum to challenge and potentially breach this important psychological barrier in coming sessions. The strength of this move, combined with supportive technical indicators, suggests the potential for further upside if the $70.00 level is convincingly taken out.
Resistance Levels: 71.45, 75.95
Support Levels: 67.15, 63.80
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