Bitcoin surges 9% to $107,800 testing key resistance

Bitcoin's price has surged by 9% over the past 72 hours, reaching around $107,800 after a strong rebound from sub-$99,000 levels earlier this week. This rally has brought the price to a critical red supply zone between $108,000 and $110,000, an area where historical rejections have often triggered consolidation phases. The price is currently pausing just below this resistance, with several indicators suggesting an imminent inflection point.

From a multi-timeframe perspective, Bitcoin's price action has turned bullish following a breakout from a descending channel visible on the daily and 4-hour charts. The current rally began with a liquidity sweep near $98,000, forming a bullish order block and reclaiming the broken structure. The price is now testing the same region that caused the last rejection near $108,000. The 1D chart shows this area aligning with the upper trendline projection, where BTC reversed in early June. A breakout above this level could initiate a broader expansion phase, while rejection would risk a retracement back toward $104,000–$105,000.

The 4-hour chart confirms a clean break of multiple diagonal trendlines and reclaim of horizontal demand at $104,500. The price now sits atop stacked support levels, but upside candles are shrinking in size, indicating hesitation. The reason for Bitcoin's price increase today is a combination of liquidation triggers and technical reclaim zones. Over $60 million in short positions were liquidated on June 25 alone, driving a cascade effect that accelerated the move toward $108,000. Simultaneously, BTC price broke above the 20/50/100 EMA cluster (around $105,000–$106,000), flipping this previously bearish alignment into support. The Supertrend indicator has flipped green on the 4-hour timeframe, while the Keltner Channel midline has started turning upward, suggesting healthy momentum. Additionally, the price reclaimed the Point of Control near $107,000, which was acting as resistance across the last two weeks. This bullish reclaim has led to increased interest from intraday buyers, especially those trading above VWAP, which now rests at $107,590.

Momentum signals suggest that Bitcoin's price volatility may spike soon as traders watch for a resolution. On the 30-minute chart, the RSI stands at 55.89 – a moderate reading, but with two confirmed bearish divergences (bear signals) already printed since June 25. The MACD on the same chart is flattening after a strong bullish run, indicating a potential shift in intraday momentum. Meanwhile, Bollinger Bands on the 4-hour chart are starting to squeeze near the $108,000 mark – a sign that price is coiling ahead of its next move. The Parabolic SAR dots have shifted below price but are tightening. If BTC price drops below the intraday trendline near $107,000, a breakdown toward $105,800 becomes plausible. On the 4-hour Smart Money Concepts chart, BTC price is trading near a “Strong High” liquidity pocket where equal highs (EQH) were formed earlier this month. If this level is rejected again, a new Change of Character (CHoCH) could trigger profit-taking.

For June 27, the market is closely watching whether Bitcoin price spikes above $108,200 with strong volume. A confirmed breakout from the supply zone could expose $109,600 and $111,000 as the next resistance levels. On the flip side, any intraday close below $107,000 increases the chance of a move down toward $105,500–$104,800, where the EMA confluence and Supertrend baseline lie. Directional Movement Index (DMI) readings show +DI and -DI still crossing with ADX at ~11.7 — suggesting trend strength is still building, but not yet dominant. This keeps the short-term bias cautiously bullish unless BTC fails to defend the rising trendline support.

In summary, Bitcoin's price has shown a strong rebound and is currently testing a critical resistance zone. The bullish momentum is supported by technical indicators and liquidation triggers, but there are signs of hesitation and potential volatility ahead. The short-term outlook for June 27 will depend on whether the price can break above $108,200 or if it faces rejection and retracement. The market is closely monitoring these levels for further direction.