Bitcoin Holds Above $104,500 After 63% Rally Following Golden Cross

Bitcoin has been maintaining a strong position, with its price locked between $104,500 and $111,950 following a robust uptrend and a confirmed Golden Cross on major charts. The current price levels exhibit structural strength, with momentum cooling slightly but trend signals pointing towards continuation. The Golden Cross, where the 50-day moving average trades above the 200-day moving average, occurred above $93,000 in early June. This crossover has historically resulted in significant upside follow-through, including a 63% rally during the fourth quarter of last year. Since the crossover, Bitcoin has maintained a bullish structure with higher highs and higher lows, with support holding near $94,000 and $102,500 during pullbacks.

Volume clusters suggest that buyers dominate the $104,000–$107,000 zones, while $111,000 resistance tests short-term breakout potential. Bitcoin surged from below $104,000, breaking into higher liquidity regions and triggering sharp market reactions. The price now holds above $107,730, trading within a balanced zone filled with clustered bid action. Volume Profile (VPVR) data marks $104,529.8 as the Point of Control, indicating the most traded level recently. Bitcoin price rejections have formed above $111,000, triggering local sell pressure and short pullbacks. The chart shows clustered bids between $104,000 and $107,000, confirming buyer interest remains concentrated around these levels. Bears continue to appear around $109,000 and above, seen through rising red bars in the volume profile.

Momentum has cooled since June 11, with the histogram turning negative and falling to -386.4. However, it hasn’t signaled a broader downtrend. Despite the weakness, the Bitcoin price holds firmly above the $104,500 zone. That area, previously a demand shelf, has now turned into a key decision point for bulls and bears alike. Bitcoin’s sharp rally in early June tapped into previous demand before consolidating. The current pause resembles healthy market digestion rather than trend exhaustion. If Bitcoin price holds above $107,000 and flips the micro-resistance near $108,000, another push toward $111,950 becomes technically viable.

Candlestick formations remain constructive, with Bitcoin price holding above both moving averages, confirming trend-following demand. Short pullbacks remain shallow, indicating strong underlying market confidence. Market analysts continue issuing bullish commentary following the Golden Cross confirmation. This specific crossover triggered last time before a 63% rally, drawing comparisons to current conditions. Experts refer to this zone as Bitcoin’s “wealth acceleration phase,” citing strong trend momentum and favorable structure. They’ve called recent dips “gifts,” urging investors to treat retracements as opportunities, not warnings. A perfect Fibonacci bounce and a successful retest of a bull flag breakout reinforce this bullish framework. Critical support remains at $104,500, which must hold to keep momentum alive. The setup now depends on whether buyers can reclaim $111,950 or consolidate longer near $107,000 before continuation.