‎Bitcoin Faces Strong Bearish Pullback Despite Bullish Structure Break

‎BTCUSD Market Analysis – June 13

‎Bitcoin Faces Strong Bearish Pullback Despite Bullish Structure Break, as recent price action signals a potential shift in momentum.

‎Bitcoin (BTCUSD) Key Levels

‎Support Levels: $90,700.00, $72,000.00
‎Resistance Levels: $104,700.00, $120,800.00

‎BTCUSD Long-Term Trend: Bullish

‎Bitcoin has maintained a broad bullish trajectory, with its price structure consistently forming higher highs and higher lows. Recently, the cryptocurrency broke structure to the upside, briefly surpassing the key $104,700 supply level. However, this bullish momentum is now under threat as the market begins to show signs of weakness.
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‎After breaching the $104,700 zone, Bitcoin failed to sustain its upward drive, forming a “failed high”—a common reversal signal indicating waning bullish strength. This failure suggests a shift in market sentiment, reinforced by the daily Relative Strength Index (RSI), which is declining sharply from the overbought zone. This RSI behavior often precedes deeper corrective moves or trend reversals.
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‎Additionally, the daily Moving Average now positions itself above current price levels, confirming bearish pressure in the short term. Price has begun trading below this indicator, signaling that sellers are gradually taking control. Several Fair Value Gaps (FVGs) are now exposed below the current price, increasing the likelihood of continued downside movement as the market seeks to rebalance inefficiencies during the pullback.

‎BTCUSD Medium-Term Trend: Bearish

‎On the medium-term chart, the early stages of a bearish leg are developing, following the failed high observed on the higher timeframe. Although Bitcoin is currently attempting to reclaim the $104,700 level, it faces growing resistance as the market unfolds a corrective structure.
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‎A temporary bullish reaction has emerged, likely fueled by the 4-hour RSI, which entered the oversold territory, sparking a short-term bounce. Despite this, price is approaching a 4-hour order block, a key supply zone expected to reject bullish attempts and resume the broader bearish retracement.
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‎Should price close convincingly below the $104,700 level, it would confirm the shift in momentum and potentially trigger an aggressive sell-off. In that case, price is expected to target deeper higher timeframe FVGs, completing the correction before any renewed bullish interest may arise.

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