Bitcoin’s Struggle: Is This the End of the Bull Run?

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Bitcoin (BTC) has managed to flirt with the $109,000 mark, only to fall back into the familiar embrace of its corrective phase. With a lower high now etched into the charts, one must ask: can Bitcoin bulls avoid the inevitable, the dreaded lower low? Or will they meet their tragic fate like so many before them?

The Farce of Geopolitics: Markets Soar, the World Burns

The geopolitical scene is as unstable as ever, but fear not, for Wall Street continues to rise. The Israel/Iran conflict rages on, entering its fifth day of no resolution, yet the S&P 500, ever the resilient beast, stubbornly clings above 6,000 points. The all-time high of 6,147 is just a hop, skip, and a jump away. Perhaps the world can fall apart, but liquidity—now there’s something that truly matters.

Bitcoin’s Brave Defiance: Bulls Push Forward, Against All Odds

In this apocalyptic landscape, Bitcoin somehow defies gravity, rising to the formidable $109,000 resistance. The brave warriors behind the U.S. Spot Bitcoin ETFs are charging ahead, their sixth consecutive day of inflows totaling a staggering 16.8K BTC. Meanwhile, Strategy makes a bold move, acquiring 10,100 BTC for a cool $1.5 billion. And all the while, Bitcoin refuses to be dragged down by the chaos that surrounds it. Isn’t it just charming?

Sideways Forever? The Price Action Trudge Continues

The 4-hour chart for $BTC shows a painfully familiar pattern—sideways. Oh, how thrilling. The $109,000 resistance has become a veritable fortress, and Bitcoin’s next challenge is clear: pierce this barrier and confirm above. But wait—there’s more. The bulls must tread carefully, as a dip below the critical $105,750 and $104,400 levels looms large. Should $102,000 fall, it’s the beginning of the end. Or is it?

The Volatility Monster: A Dance with the Dragonfly

Looking at the weekly time frame, it’s clear that volatility is running rampant. The candle wicks grow ever longer as Bitcoin ascends into rarified air. The dragonfly doji candle from two weeks ago offered a glimmer of hope for the bulls, but last week’s candle threw cold water on those dreams, leaving a long wick to the upside. Will this week’s candle provide salvation, or will it further drag the bulls into despair? The bears watch with eager anticipation.

The bulls, for their part, must push Bitcoin back above $106,000 to have any hope of redemption. At the very least, they must avoid the ignominious fall below $104,400. One misstep, and the downfall begins.

At the bottom of the chart, the Stochastic RSI reveals a glimmer of hope, with the blue fast line eyeing a potential climb above the orange slow line. If this happens, it could provide the bullish momentum that Bitcoin desperately needs. But, as always, the future remains uncertain—full of treachery and dashed hopes.

Two-Week Dilemma: Can the Bulls Hold On?

And now we turn to the two-week chart, which, like a distant cousin, offers some optimism. The breakout of the bull flag has yet to reach its $115,000 target, but as long as the next two-week close remains positive, further upward action may be on the horizon. But let us not be fooled—there is the real possibility of a double top forming. Should Bitcoin fail to hold support, the Stochastic RSI could signal doom, sending the price into a downward spiral.

If this tragic scenario unfolds, a massive dip could follow, leaving the bulls clutching their rosaries, praying for deliverance. But for now, the only thing we can do is wait, hope, and brace ourselves for the inevitable.

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2025-06-17 16:41