Bitcoin (BTC) shows new signs of strength as it is closely watched by analysts who are closely watching key levels of resistance that can cause the next leg higher.
As of Monday, June 9, 2025, Bitcoin was trading at $106,830, an increase of 1.6% over the past 24 hours, according to latest market data. Currently, daily trading volume is $39.45 billion, a healthy increase of 9.67%, reflecting the building’s interest in potential breakouts.
Crypto strategist Michael Van de Poppe (@cryptomichnl) highlights the importance of the $106,500 level, calling it an important technical barrier that BTC must clear to rekindle the uptrend.
“I think we’ll see a strong rally the moment Bitcoin breaks through the key $106,500 barrier,” commented Van de Poppe.
In a recent chart update, Van de Poppe explained that this level previously served as a strong support after Bitcoin’s first ever greatest cycle. However, it reversed to resistance after multiple breakout attempts failed in a recent session.
“It was the level of support after the first ATH, so it’s essential to go beyond this level,” he writes. “As you can see, multiple tests have been done to break through it, and the sellers have won. The next test can lead to a strong breakout that will be the next uptrend and a new Astul.”
Classic Bitcoin Support and Resistance
This pattern reflects classic technological dynamics that previous support becomes a resistance. A critical move through $106,500 to support perhaps $107,000 could show new momentum for Bitcoin.
For now, traders and investors are poised for what could become this important breakout attempt, so traders and investors are looking closely as BTC is below this pivotal level.
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