Bitcoin trading at the 50-day moving average, a breakthrough of $110,000 may determine the market direction.

OnChainDetective · 2025-06-18T12:40:29+00:00

Bitcoin's current price has retraced to the 50-day Simple Moving Average (SMA), which provides support and drives a Rebound. If the support is lost, it may face strong selling pressure and fall below 100,000 USD. Recently, the strength of the Rebound has weakened, and to regain bullish momentum, it must break through the 110,000 USD resistance level.

OnChainDetective

2025-06-18 12:40:29

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On June 18, analyst and chartered market technician Omkar Godbole stated that the current Bitcoin price has fallen back to the 50-day Simple Moving Average (SMA), which has provided support and pushed the price to rebound twice this month.

Therefore, this re-test of the MA provides bulls with an opportunity to establish a trend—making the 50-day MA a launching pad for a new round of increase. Conversely, if the 50-day MA support fails, it may trigger stronger selling pressure, leading to a price drop below the 100,000 dollar mark.

From the market perspective, the bearish forces seem to have the upper hand. Recently, the strength of the rebound from the 50-day MA has gradually weakened: on June 5th, during the first test of the MA, Bitcoin rebounded over $10,000 from $100,500; while on June 17th, during the second test, the rebound was only from $103,000 to $109,000.

The doji candlestick formed in the past week also shows that bullish momentum above $100,000 has begun to wane. To revitalize the short-term bullish outlook, Bitcoin needs to break out with volume above the key resistance level of $110,000.

BTC-2,86%

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