Bitcoin Price Surges 1% to $106,678 as Bulls Reclaim Key Levels

Bitcoin's price has shown renewed momentum as of June 17, following a successful rebound from the $104,000–$105,000 demand zone. Bulls have reclaimed mid-Fibonacci support levels, but the market still faces key hurdles near recent supply zones. The Bitcoin price today stands at $106,678, up nearly 1% in the last 24 hours. This move comes after a week of sideways action marked by low volatility and consolidation within a narrowing range.

The daily chart shows BTC pushing back above the 0.5 Fibonacci level at $105,514 and approaching the 0.382 retracement at $106,706. A daily close above this region would reinforce bullish sentiment for the short term. The Bitcoin price update also reflects improved order flow and minor break-of-structure (BOS) signals on the 4-hour chart, suggesting buyers are regaining control.

From the 4-hour chart, the Bitcoin price recently printed a bullish Change of Character (CHoCH) after defending the $104,000 demand zone. This followed a previous Break of Structure (BOS) to the downside earlier this month, making the current push a reclaim attempt. Key observations include an Equal High (EQH) and cluster of CHoCHs forming between $106,000 and $106,700. BTC has reclaimed this minor range and is now approaching a Weak High liquidity zone at $108,000–$110,000. If the price breaks above that EQH cluster with volume, it could trigger a liquidity sweep targeting stop losses just above $108,100. The Strong Low around $100,000 remains the protected level; a revisit would invalidate the current bullish structure.

This data aligns with the broader bullish recovery and suggests that institutional-style order flow is shifting bullish as long as the $104,000–$105,000 block holds. The 4-hour chart shows BTC finally breaking through its coiling structure within the $104,000–$106,000 zone. A higher low structure has formed, supported by the Supertrend (green) flip and sustained bullish signals from the Inside Bar Strategy. Bollinger Bands are widening after a tight squeeze, with the price pushing above the midline and nearing the upper band around $107,000. This typically signals incoming expansion in Bitcoin price volatility.

The Keltner Channel also supports the move, with the price now above all 4H EMAs (20, 50, 100, 200), confirming a strong bullish alignment. However, the $107,662–$108,181 range (upper Keltner band and Fib 0.236) remains a potential reversal zone. Momentum indicators are showing a supportive bias. The 4-hour Momentum (Mom) indicator sits at +1,786, marking the highest reading in over a week. Meanwhile, the Awesome Oscillator (AO) on the 30-minute chart has flipped green with rising histogram bars, supporting the view of increasing upside strength. Directional Movement Index (DMI) shows a +DI (blue) crossover above -DI (orange) with ADX rising to 31, indicating a strengthening trend on the intraday timeframes.

On the volume front, OBV on the daily chart has begun rising after a prolonged flattening phase, pointing to growing accumulation behind the move. The Bitcoin price action is also supported by the daily candle forming a higher low and a bullish engulfing setup against the June 13 candle. If this holds, it could further validate the shift in short-term bias. The Bitcoin price is climbing today due to a combination of technical factors. A bullish breakout from the liquidity sweep near $104,000, paired with confirmation from multiple trend indicators, has created an upward push. Key catalysts behind this short-term recovery include the successful defense of the 0.618 Fib ($104,222) and higher low formation, a bullish breakout from recent Inside Bar signals on the 30-min chart, improvement in momentum and volume-based metrics (AO, OBV, DMI), and strong demand zone around $104,000 holding firm despite multiple tests.

That said, Bitcoin still needs a clean close above $108,181 to flip the macro structure fully bullish again. In summary, the Bitcoin price update for June 17 signals a short-term bullish recovery. As long as BTC holds above $105,500, the path toward $108,000–$110,500 remains open. However, traders should monitor volume and momentum near $108,181 for signs of potential resistance.