Trade experts predict that technical indicators will gather potential Bitcoin (BTC) towards $110,000 as assets seek to recover from weekend sales.
Bitcoin, in particular, temporarily plunged under $100,000 on Sunday following a market-wide decline caused by the US strike against Iran’s nuclear facilities, matching Washington with Israel in the ongoing Middle East conflict.
According to the analysis of Trade shotthe recent decline formed a similar downward channel as the revisions from December 17, 2024 to January 13, 2025.
In both cases, Bitcoin fell below the 50-day moving average (MA) and formed a low. The January move led to a sharp turnaround that retested the best of all time, analysts said TradingView Posted on June 23rd.
Trade shot He also pointed out that the relative strength index (RSI) once again tested the 41.20 support level, enhancing the similarity between the two patterns.
Given the short uptrend since April 7, 2025, analysts suggest that this could be a bull flag, and are often considered a continuation pattern within the wider bull cycle.
Medium term breakouts remain unconfirmed until weekly candles exceed record highs, butReading shot We have set an interim target of $111,900 for our next potential high.
Short-term play of bitcoin
Meanwhile, prominent trader Michael Van de Poppe commented on the X-Post on June 23 that Bitcoin had filled the $100,000 level.
Poppe noted that Bitcoin could consolidate in the short term, but breakouts above $102,500 confirmed the end of the fix and could trigger new rally. He identified $103,800 as a critical level for the Bulls to target.
The main challenge right now is to go above $100,000. Below this level, Bitcoin could be at an additional risk to $80,000.
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