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Bitcoin Price Nosedives—Profit-Taking Sparks Sudden Correction

13 June 2025
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Bitcoin worth began a contemporary decline under the $105,500 zone. BTC is now consolidating and struggling to remain above the $103,200 assist.

Bitcoin began a contemporary decline under the $106,500 and $105,500 ranges.
The worth is buying and selling under $106,500 and the 100 hourly Easy transferring common.
There’s a key bearish pattern line forming with resistance at $106,600 on the hourly chart of the BTC/USD pair (information feed from Kraken).
The pair might begin a contemporary restoration wave if it clears the $105,500 resistance zone.

Bitcoin Worth Dips Sharply

Bitcoin worth began a contemporary decline after it didn’t clear the $110,500 resistance zone. BTC declined under the $107,500 and $106,500 assist ranges.

The worth even dipped under the $104,200 assist stage. Lastly, it examined the $103,000 zone. A low was fashioned at $103,078 and the value is now consolidating losses under the 23.6% Fib stage of the latest decline from the $110,273 swing excessive to the $103,078 low.

Bitcoin is now buying and selling under $105,500 and the 100 hourly Easy transferring common. There’s additionally a key bearish pattern line forming with resistance at $106,600 on the hourly chart of the BTC/USD pair.

On the upside, speedy resistance is close to the $104,200 stage. The primary key resistance is close to the $105,500 stage. The subsequent key resistance may very well be $106,600 and the 50% Fib retracement stage of the latest decline from the $110,273 swing excessive to the $103,078 low.

Bitcoin Price
Supply: BTCUSD on TradingView.com

An in depth above the $106,600 resistance may ship the value additional larger. Within the acknowledged case, the value might rise and check the $108,000 resistance stage. Any extra positive factors may ship the value towards the $110,000 stage.

Extra Losses In BTC?

If Bitcoin fails to rise above the $105,500 resistance zone, it might begin one other decline. Rapid assist is close to the $103,000 stage. The primary main assist is close to the $102,350 stage.

The subsequent assist is now close to the $101,500 zone. Any extra losses may ship the value towards the $100,500 assist within the close to time period. The principle assist sits at $100,000, under which BTC may achieve bearish momentum.

Technical indicators:

Hourly MACD – The MACD is now gaining tempo within the bearish zone.

Hourly RSI (Relative Power Index) – The RSI for BTC/USD is now under the 50 stage.

Main Assist Ranges – $103,000, adopted by $102,350.

Main Resistance Ranges – $104,200 and $105,500.



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Tags: BitcoinCorrectionNosedivesProfitTakingPriceSparksSudden
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