Bitcoin price bullish structure supported by daily volume growth and RSI stability
Bitcoin erases Monday rally after $109K rejection, but buyers defend key trendline
Bitcoin price began the week on a strong note after consolidating below the 20 day exponential moving average throughout the weekend.
Monday’s session recorded a 4% surge that took the price to a five day high at $109,000. The rally reclaimed key technical levels including the $106,500 resistance zone and the 20 day ema near $106,200. However, those gains proved temporary.
Highlights
-Bitcoin erased Monday’s entire rally after rejecting $109,000 resistance
-Buyers defended a key trendline near $105,500 earlier in today’s Asian session
-Volume-backed recovery signals bulls still hold short term structural control
During the late North American session and into early Tuesday's Asian session, Bitcoin pulled back below both the resistance zone and the moving average, erasing Monday’s entire upside move.
BTC price dynamics (May - June 2025). Source: TradingView
The rejection at $109,000 and the subsequent drop below $106,500 highlighted the sensitivity of Bitcoin price to short term profit taking. Still, technical structure suggests buyers are defending key levels. During Tuesday’s Asian session, bulls returned at the confluence of a rising trendline and short-term intraday support, lifting price to an intraday high of $107,800. That recovery was backed by increasing volume, reflecting market interest in defending the bullish structure.
Bitcoin RSI holds at 55 while trendline support draws renewed buying interest
Since the European session, momentum has slowed again. Bitcoin is currently trading at $106,600, slightly above the key support region formed by the rising trendline that has held since last week’s low at $102,900. This ascending trendline now acts as a key pivot level, and its defence by buyers earlier today reinforces its importance in the short-term structure. Any sustained breakdown below this line, especially below $105,500, could accelerate losses toward the previous weekly low of $102,900.
Despite intraday pullbacks, the daily chart still leans bullish. The RSI is holding around 55, indicating positive sentiment but without overstretching into overbought territory. Additionally, the uptrend since the $102,900 low has developed alongside growing daily volume. This alignment between price, volume, and momentum favours a continuation to the upside as long as structural support is respected.
The immediate bullish targets are the intraday high at $109,000 and the $110,000 psychological level. Those levels will test the resolve of buyers following this ongoing consolidation. But if the rising trendline is broken decisively, short term sentiment may shift in favour of the bears.
Bitcoin bounced off last week's low and reclaimed the 20-day EMA after a 1.5% rise. Price stalled at the $107,000 resistance as RSI and sentiment stayed mildly bullish.
