- Bitcoin’s rebound from $107,000 support keeps its bullish channel intact, aiming for $111,000 resistance as momentum builds.
- Strong buyer defense at $107,500–$108,000 marks it a pivotal zone for further upward movement.
- Longer wicks and reduced selling pressure confirm bullish control as BTC holds its short-term trendline above $108,900.
Bitcoin has rebounded from a key trendline base, preserving its short-term bullish channel despite recent downward pressure. The asset trades above $108,900, with technical indicators pointing to a potential push toward the $111,000 level.
Initial Analysis Highlights Key Support Rebound
The $BTC 4-hour chart displays a sustained ascending channel featuring higher highs and consistent trendline support since mid-May. Bitcoin’s price action has respected the lower boundary near $107,000, confirming it as a strong technical base. Resistance around $108,500 has been cleared, pushing Bitcoin into the upper half of the formation.
Source: Post on X
As in the post above, bullish analyst Satoshi Flipper has provided insights into this price rebound after a $4,800 retracement from the $111,800 high. According to Flipper, the formation of a strong green Heikin Ashi candle followed multiple weakening bearish bars. He noted that the candle’s small upper wick signals regained bullish strength, driven by buyer re-entry near $107,500.
His analysis emphasizes that the zone between $107,500 and $108,000 has formed a support cluster during the correction. He pointed to the current candle structure as confirmation of reduced selling pressure and firm demand. The bounce has moved BTC above short-term resistance, suggesting the potential for upward continuation.
Another Perspective Points to Structural Continuity
From another perspective, Satoshi Flipper has presented a broader structural view of Bitcoin’s rising channel. He explained that the ascending pattern has held firm since May 7, with each correction finding intra-channel support. According to his breakdown, the channel’s midline near $106,500 has consistently acted as a buffer during retracements.
Source: Post on X
Flipper highlighted that the lower trendline intersects current price levels, supporting the ongoing bullish bias. He added that a green arrow projection points toward the $111,000–$112,000 zone, aligned with prior local highs. Price remains above the breakout threshold near $108,500, showing resilience amid volatility.
Analysts Remain Focused on Trendline and Volume Behavior
Beyond this, it’s important to recognize that analysts are closely watching channel integrity and potential volume confirmation. Satoshi Flipper’s analysis relies on price structure, as volume indicators were not included in his chart. However, analysts broadly agree that breakdowns below $107,000 would shift momentum short-term.
Another key consideration is that longer, lower wicks on recent candles reflect weakening bearish control. Analysts are monitoring for continued higher lows to maintain the bullish structure. The $106,800–$108,000 region remains pivotal for Bitcoin’s next directional move.
