Bitcoin traded at $108,220 today, with a market capitalization of $2.15 trillion and a 24-hour trading volume of $10.41 billion. Throughout the day, the cryptocurrency moved within an intraday price range of $107,138 to $108,320, indicating a narrow but significant consolidation zone in a broader bullish context.
Bitcoin
On the daily chart, bitcoin’s price action shows a strong V-reversal following a correction from a recent high of $110,789 to a low of $98,240. The rebound is marked by increasing volume and smaller-bodied green candlesticks, suggesting a slowing but still positive momentum. The price currently consolidates just below the $108,000 mark. A confirmed breakout above the $110,000 resistance with high volume could signal a continuation of the long-term uptrend. Key support zones remain at $103,000 and $98,000, where prior buying activity was concentrated.
BTC/USD daily chart on June 29, 2025.
From a medium-term perspective, the 4-hour BTC/USD chart illustrates a bullish flag formation, underscored by a gradual upward grind. A breakout candle near the $108,358 level accompanied by a noticeable volume spike indicates buyers are gaining confidence. Should the price retest the $107,000 to $107,500 region successfully, it may present a lower-risk entry for bullish positions. Conversely, a sustained move below $106,800 would invalidate this short-term structure and necessitate a reassessment of directional bias.
BTC/USD 1-hour chart on June 29, 2025.
On the 1-hour chart, bitcoin demonstrates short-term momentum through a narrow consolidation followed by sharp upward moves. Volume confirmation during recent green candles validates a bullish breakout from what appears to be an accumulation zone. Traders looking to capitalize on this setup may consider entries on pullbacks toward the $107,700 to $108,000 range. Protective stops below $107,200 are prudent, particularly if accompanied by an uptick in sell-side volume.
BTC/USD 4-hour chart on June 29, 2025.
Oscillator readings offer a largely neutral bias with nuanced bullish leanings. The relative strength index (RSI) sits at 59, indicating neither overbought nor oversold conditions. The Stochastic and commodity channel index (CCI) are also neutral, while momentum (10) and the moving average convergence divergence (MACD) are in buy territory—suggesting an upward bias is emerging. The average directional index (ADX) at 14 reflects a weak trend strength but does not conflict with the bullish signals from other momentum indicators.
All major moving averages (MAs) indicate strong bullish alignment. The exponential moving averages (EMA) and simple moving averages (SMA) across all key periods—from 10-day to 200-day—are positioned below the current price, each issuing a buy signal. The 10-day EMA at $106,462 and 10-day SMA at $105,524 suggest immediate short-term support, while longer averages such as the 200-day EMA at $94,475 and SMA at $96,224 confirm the prevailing uptrend is well-supported. These technical layers establish a firm foundation for potential upward continuation, contingent on volume and breakout confirmation.
Bull Verdict:
Given the alignment of all key moving averages in buy territory, alongside bullish signals from the momentum (10) and moving average convergence divergence (MACD), the technical structure across the 1-hour, 4-hour, and daily charts supports a continued uptrend. A breakout above $110,000 on strong volume could confirm bullish dominance and open the path to new highs.
Bear Verdict:
Despite bullish signals, oscillators such as the relative strength index (RSI) and Stochastic remain neutral, while the average directional index (ADX) reflects weak trend strength. A breakdown below $106,800 on the 4-hour chart or $107,200 on the 1-hour chart—especially with increasing volume—would invalidate the current setup and may trigger a short-term bearish reversal.
