Bitcoin (BTC) price is fighting to hold $100K after a volatile weekend dip to $98,225. Despite this, BTC price recovered 2.82% and closed above the aforementioned psychological level. As of Monday, June 23, BTC price is up nearly 1% and trades at $101,500. With the New York trading session underway, traders are watching $99.8K support and $102.6K resistance for the next big move. In this BTC price analysis, let’s break down the critical levels and whether BTC is poised for a rally to ATH or deeper drop.
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Bitcoin Price Analysis: Here’s What Investors Can Expect This Week
The Time Price Opportunity (TPO) chart for Bitcoin (BTC) outlines key short-term outlook that investors can use to gauge what to expect in today’s New York trading session.
The TPO chart shows that yesterday’s Value Area Low at $99,800 is the immediate support level. A bounce off this level is what investors are expecting to halt the recent crypto market crash. The TPO also outlines a few naked Point of Controls (nPOCs) which serve as key resistance levels to watch should Bitcoin price bounce. These hurdles include – $102,600, $103,600, $104,600. Additionally, the supply zone, coinciding with supply zone, extending from $104,500-$107,200 is also a key hurdle for reversal.
BTC 12-Hour TPO ChartDue to the strong resisance levels, the short-term outlook reveals that a push to ATH at $112,000 is unlikley unless the aforementioned hurdles are overcome.
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Market Structure Concerns
While the TPO chart shows what traders may be expecting in the short term, the daily chart provides a better outlook on the weakening BTC’s market structure and to expect next.
The BTC’s price action shows a developing bearish outlook since its ATH at $112,000 as it has produced a lower high at $110,651 followed by a lower low $100,377 and the most recent lower low at $98,225. This string lower lows and lower highs suggest that Bitcoin market structure has flipped bearish.
BTC/USD 1-Day ChartDespite these bearish signals, the recovery above $100,000 suggests lingering demand. The current price sits between critical technical levels, making the next 24 to 48 hours pivotal for determining trend direction.
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Is a Bitcoin ATH Possible This Week?
The chances a Bitcoin ATH this week are low considering that BTC price is down nearly 10% from its peak. Additionally, the TPO analysis shows multiple hurdles stacked up to $105K. Until these levels are breached, it is uncertain to make any long-term Bitcoin price predictions for this week.
On the other hand, the daily BTC price chart shows that if this downtrend continues and $100,000 level breaks, it is highly plausible for Bitcoin to revisit the $93,024 support level. Beyond this, investors can expect a strong bottom to form around $87,509 to $91,653 zone.
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Frequently Asked Questions (FAQs)
Will Bitcoin price drop below $100K again?
If BTC loses $99,800 support (yesterday’s Value Area Low), a retest of $98,225 or lower to $93K becomes likely.
What’s needed for BTC to retest its $112K ATH?
BTC must consecutively break $102,600, $104,600, and the $104.5K–$107.2K supply zone with high volume—currently unlikely this week.
Is Bitcoin’s market structure now bearish?
Yes, with lower highs ($110,651) and lower lows ($98,225), the structure favors bears unless BTC reclaims $107,200.
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Can BTC Price Hit ATH Soon? Here’s the Analysis
Bitcoin (BTC) price is fighting to hold $100K after a volatile weekend dip to $98,225. Despite this, BTC price recovered 2.82% and closed above the aforementioned psychological level. As of Monday, June 23, BTC price is up nearly 1% and trades at $101,500. With the New York trading session underway, traders are watching $99.8K support and $102.6K resistance for the next big move. In this BTC price analysis, let’s break down the critical levels and whether BTC is poised for a rally to ATH or deeper drop.
Advertisement
Advertisement
Bitcoin Price Analysis: Here’s What Investors Can Expect This Week
The Time Price Opportunity (TPO) chart for Bitcoin (BTC) outlines key short-term outlook that investors can use to gauge what to expect in today’s New York trading session.
The TPO chart shows that yesterday’s Value Area Low at $99,800 is the immediate support level. A bounce off this level is what investors are expecting to halt the recent crypto market crash. The TPO also outlines a few naked Point of Controls (nPOCs) which serve as key resistance levels to watch should Bitcoin price bounce. These hurdles include – $102,600, $103,600, $104,600. Additionally, the supply zone, coinciding with supply zone, extending from $104,500-$107,200 is also a key hurdle for reversal.
BTC 12-Hour TPO ChartDue to the strong resisance levels, the short-term outlook reveals that a push to ATH at $112,000 is unlikley unless the aforementioned hurdles are overcome.
Advertisement
Advertisement
Market Structure Concerns
While the TPO chart shows what traders may be expecting in the short term, the daily chart provides a better outlook on the weakening BTC’s market structure and to expect next.
The BTC’s price action shows a developing bearish outlook since its ATH at $112,000 as it has produced a lower high at $110,651 followed by a lower low $100,377 and the most recent lower low at $98,225. This string lower lows and lower highs suggest that Bitcoin market structure has flipped bearish.
BTC/USD 1-Day ChartDespite these bearish signals, the recovery above $100,000 suggests lingering demand. The current price sits between critical technical levels, making the next 24 to 48 hours pivotal for determining trend direction.
Advertisement
Advertisement
Is a Bitcoin ATH Possible This Week?
The chances a Bitcoin ATH this week are low considering that BTC price is down nearly 10% from its peak. Additionally, the TPO analysis shows multiple hurdles stacked up to $105K. Until these levels are breached, it is uncertain to make any long-term Bitcoin price predictions for this week.
On the other hand, the daily BTC price chart shows that if this downtrend continues and $100,000 level breaks, it is highly plausible for Bitcoin to revisit the $93,024 support level. Beyond this, investors can expect a strong bottom to form around $87,509 to $91,653 zone.
Advertisement
Frequently Asked Questions (FAQs)
If BTC loses $99,800 support (yesterday’s Value Area Low), a retest of $98,225 or lower to $93K becomes likely.
BTC must consecutively break $102,600, $104,600, and the $104.5K–$107.2K supply zone with high volume—currently unlikely this week.
Yes, with lower highs ($110,651) and lower lows ($98,225), the structure favors bears unless BTC reclaims $107,200.
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