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Bitcoin is at a crossroads again. The prices have been bouncing between $ 61,000 and $ 104,000 for about seven months. That range is very similar to the $ 31,000 – $ 64,000 sideways movement before the sharp decrease in the early 2022. Traders and analysts are divided on whether the history is about to repeat themselves whether a new question Bitcoin is holding up.
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Price stuck in well -known reach
According to reports, the $ 61k to $ 104k piece reflects the “distribution zone” 2020-2021 when it was between $ 31,000 and $ 64,000 for almost a year. At the time the slide came quickly: Bitcoin Peak around $ 69,000 in November 2021 and then dropped to around $ 15,600 in November 2022. That was a dive of almost 78%.
Breakouts keep falling flat
Based by Michaël van de Poppe, Bitcoin did not try this month above the $ 106k level. His graph showed a rapid rejection at that barrier, which brought liquidations for a long long time. The price slid back to the $ 104k – $ 105k zone after the failed push higher. Traders see every failed outbreak as a warning signal of distribution.
November 2021 all over again? pic.twitter.com/lia6qfhd9s
– Peter Brandt (@peterlbrandt) June 14, 2025
Risk of steep slide
According to Veteran Trader Peter Brandt, strong foundation rings often shine the brightest just before a market top. He pointed out that if today’s attitude leads to a similar decrease of 78% compared to the $ 105k band, Bitcoin could fall to $ 23,600. His simple mathematics recalls the switch from the last cycle from about $ 69k to $ 15,500.
The growing demand meets technical barriers
Based on reports of Spot ETFs And growing purchases through institutions and governments, some believe that the floor is now firmer. Huge investment flows in Bitcoin have never been higher. Nevertheless, technical obstacles continue to exist. The inability to erase $ 105k makes some analysts cautious.
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Signals in the long term still bullish
Trader Tardigrade noted that Bitcoin’s 50 day and 200 days of simple advancing averages recently formed a Golden Cross. In earlier cycles, that pattern led to a profit of 50%, 125%and 65%. It points to a possible rally when buyers come in within the current levels.
What it means for investors
Bitcoin’s tugboat between caution and optimism is clear. On the one hand, pattern guards warn of a large drop when the support breaks. On the other hand, strong hands of large players can dampen every slide of the slide and cause a rally. Investors must keep an eye on $ 104k – $ 105k for signs of weakness or strength.
A break below can open the door to a movement to $ 23,500. Conversely, a clean break above $ 106k can pop up the next leg. Anyway, the volatility seems to be high, so risk management remains the key.
Featured image of imagen, Graph of TradingView