The 1-hour chart analysis reveals a consolidation phase for bitcoin between $105,000 and $106,000, suggesting indecision in the immediate market direction. The last peak at $106,000 created a rounded top pattern, hinting at weakening bullish momentum. With support forming at $104,500, a breakout above $106,000 backed by strong bullish volume could ignite a fresh upward leg. Conversely, a price dip to the $104,800 level accompanied by decreasing sell volume might serve as a scalp buy opportunity. An appropriate exit for short-term positions lies near $106,500–$107,000, with stop-loss placements advised below $104,500 to mitigate downside risk.

BTC/USD 1-hour chart on June 8, 2025.

On the 4-hour chart, bitcoin illustrated a V-shaped recovery after dipping to $100,426, with a series of higher highs and higher lows manifesting since June 6. Despite this bullish structure, resistance at $106,800 has formed, and recent candlestick patterns signal market hesitation near that level. A confirmed breakout above this resistance could validate a long entry, whereas rejection may lead to a pullback toward the $102,500–$103,000 zone. Traders eyeing this time frame should consider entries around $104,500–$105,000 and stagger exits between $107,000–$108,000, maintaining vigilance for false breakouts amid declining volume.

BTC/USD 4-hour chart on June 8, 2025.

Daily BTC/USD chart data supports a bullish macro trend from late May into early June, peaking at $112,000 before experiencing a corrective retracement. The pullback found stability within the $100,000–$102,000 support zone, which has been tested multiple times. The price is now consolidating near $106,000–$108,000, suggesting a period of accumulation. For swing traders, a return to the $104,000–$105,000 range—especially with a long lower wick or a volume spike—may present a high-probability entry point. Profitable exits could be targeted at $108,000–$110,000, with stops recommended just below $102,000.

BTC/USD daily chart on June 8, 2025.

Oscillator readings provide mixed signals, with most indicators aligning in neutral territory. The relative strength index (RSI) at 53, Stochastic at 46, and commodity channel index (CCI) at −39 all reflect an indecisive market stance. The average directional index (ADX) at 20 reinforces this by suggesting a weak trend. Meanwhile, the Awesome oscillator and moving average convergence divergence (MACD) also lean neutral to bearish, with MACD indicating a negative bias. The momentum indicator, however, suggests positivity, signaling a potential upward thrust if supported by broader market sentiment.

Moving averages lend weight to the medium-to-long-term bullish outlook. Both the exponential moving average (EMA) and simple moving average (SMA) across 10, 20, 30, 50, 100, and 200-periods largely show buy signals. Notably, the 10-period EMA and SMA, standing at $105,142 and $104,756 respectively, support the current price, bolstering short-term bullishness. The 20-period EMA also confirms this with a value of $105,048, although the 20 and 30-period SMAs flash sell signals at $106,593 and $105,795. Longer-term averages—including the 100 and 200-period EMAs and SMAs—all favor buying, underlining structural strength beneath the price.

Bull Verdict:

Bitcoin remains structurally sound above critical support zones, with the majority of medium-to-long-term moving averages favoring further gains. A break above $106,800 with sustained volume would confirm bullish continuation, targeting $108,000 and beyond. Accumulation on dips to $104,500–$105,000 appears tactically favorable under current conditions.

Bear Verdict:

Despite its recent recovery, bitcoin faces mounting resistance near $106,800 and exhibits waning momentum on lower timeframes. Oscillators largely signal market indecision, and volume trends suggest a risk of false breakouts. Should support at $104,500 fail, a deeper pullback toward $102,000 or below remains a plausible scenario.

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