Bitcoin Daily Update June 22nd 2025Bitcoin / US DollarCOINBASE:BTCUSDchevs710Bitcoin daily chart: 🔻 Bearish Signals 1. Break of Rising Trendline: The price has broken below the upward (orange) trendline, indicating a shift in momentum. This trendline had previously acted as support, so the break suggests growing selling pressure. 2. Support Levels: BTC is now hovering just above $99,634, which appears to be a key short-term support. The next major support is around $93,363 — a break below that could open the door to mid $80K or even $71K (0.786 Fibonacci level). 3. Market Cipher Indicator (middle panel): The momentum wave is clearly descending, and VWAP (green) is curving down. The money flow (red) is negative. Bearish dots and crosses are appearing. 4. Stochastic RSI (bottom panel): Both %K and %D lines are dropping sharply below the 20 line, suggesting downside momentum is strong. No sign of bottoming out yet. 🟡 Neutral/Bullish Watch Points If BTC holds $99.6K and reclaims $100,115 or $104,616, it could neutralize or reverse this bearish setup. RSI is not oversold yet, so room remains for further downside before any strong bounce. 📉 Summary: BTC is currently bearish on the daily chart with: Breakdown from an uptrend. Weak momentum. Declining oscillators. Support tests underway. If $99.6K fails, eyes shift to $93.3K, and below that, $86.5K–$71.9K as potential zones. .... 🔻 Primary Trade Setup (Bearish) ⚙️ Type: Short Position ⏰ Timeframe: Daily 📉 Strategy: Trendline break and momentum continuation Entry: Below $99,500 (confirmation of trendline breakdown & continuation) Targets: 1. Target 1: $93,363 — Previous support level 2. Target 2: $86,500 — Next horizontal support 3. Target 3: $71,949 — Major 0.786 Fibonacci level (high confluence) Stop-Loss: Above $100,600 (to avoid fakeout wicks) Or tighter: $100,150 (for smaller R:R) Risk-to-Reward (R:R): Entry: ~$99,500 SL: ~$100,600 → ~1.1% risk TP1: ~$93,300 → ~6.2% reward R:R ≈ 5.6:1 (to TP1) — solid risk profile 🔄 Alternate Plan (Bullish Reversal Setup) ⚙️ Type: Long Position (Only IF price reclaims broken levels) If BTC reclaims $100,600 and closes above $104,616, trend could resume up. Entry: Break and daily close above $104,616 Targets: 1. $110,616 — recent resistance 2. $112,000 — psychological + historical zone Stop-Loss: Below $100,600 Invalidates upward breakout 📊 Indicators to Watch: VWAP: Still pointing down (bearish bias) Money Flow Index: Still in red (risk-off) Stochastic RSI: Resetting near bottom — could support bounce later Much love and appreciation, – chevs710