Bitcoin Bounces Off Session Lows to Trade at About $105,167

By Nicholas Kitonyi June 13, 2025, 6:58 pm • Posted in Bitcoin

On Friday, the Bitcoin price bounced from the session lows of about $102,842 to trade at about $105,167. The BTC/USD trades within an ascending channel formation in the 60-minute chart.

The price of the pioneer cryptocurrency continues to trade slightly below the 100-hour moving average line. As a result, it still has room left to run before reaching the overbought levels of the 14-hour RSI.

Bitcoin Price Fundamentals Overview

From a fundamental perspective, the BTC/USD trades during a relatively busy period in the U.S. market. On Friday, the preliminary Michigan Consumer Sentiment Index for June improved to 60.5, up from 52.2 in May, beating the forecast of 53.5. The preliminary Michigan Consumer Expectations Index also improved to 58.4 from 47.9.

On the other hand, the preliminary UoM 1-year consumer inflation expectation for the month fell to 5.1% down from 6.6%, while the preliminary UoM 5-year consumer inflation expectation of 4.1% was slightly lower than 4.2% in May.

Earlier in the week, the U.S. producer price index for May missed the expected (MoM) change of 0.2% with a change of 0.1%. The (YoY) equivalent was in line with the estimate of 2.6%. The producer price index ex-food and energy fell short of the (MoM) and (YoY) forecasts of 0.3% and 3.1%, respectively with 0.1% and 3%.

Elsewhere, the consumer price index missed the expected (MoM) change of 0.2% with a change of 0.1%, while the (YoY) equivalent fell short of 2.5% with a change of 2.4%.

Bitcoin Price Technical Analysis (the 60-min Chart)

Technically, the BTC/USD trades within an ascending channel formation in the 60-minute chart. However, the 14-hour RSI still has room left to run before reaching overbought conditions.

Therefore, the bulls will look to extend the current rebound towards $107,756 or higher to $110,256. On the other hand, the bears will look to pounce on pullbacks at about $102,842 or lower at $100,428.

Bitcoin Price Technical Analysis (the Daily Chart)

In the daily chart, the Bitcoin price is forming a double-top reversal pattern, indicating a potential pullback. The 14-day RSI has also pulled back to avoid rallying into overbought conditions.

Therefore, the bears will look to stretch the current pullback towards $100,432 or lower to $94,602. On the other hand, the bulls will look to pounce on profits at about $111,251 or higher at $118,384.