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- Bitcoin held $105,500 into the weekly close and may break above $106,600 for a trend continuation.
- Traders expect a sharp move next week as liquidation clusters build around the current price.
Following a two-week downtrend, Bitcoin remained above $105,500, heading into a weekly close. Technical support, liquidity patterns, and long-term bullish structures were flagged as the key things driving asset resilience and a possible follow-up move upward by traders and analysts.
BTC Breaks Downtrend and Holds Key Levels
Bitcoin broke the two-week downward trend as daily price action closed above the 10-day simple moving average. Trader Rekt Capital said a daily close and retest of $106,600 would signal the uptrend to continue. A critical support zone has now seen the key resistance level also act as support four weeks in a row at the $104,400 level.
On the Daily timeframe, Bitcoin is showcasing signs of breaking its two-week Downtrend (light blue) while also turning it into support earlier today
Daily Closing & retesting ~$106600 (black) would be even better to enable trend continuation$BTC #Crypto #Bitcoin pic.twitter.com/GFqiRba06Q
— Rekt Capital (@rektcapital) June 7, 2025
Liquidity maps indicate that traders are positioned higher and lower than spot prices. Liquidation clusters have begun forming on both sides, as Analyst Cas Abbe noted that Bitcoin could trigger a rapid move in either direction. However, a liquidation of 10% would wipe out $15.11 billion of shorts versus a similar liquidation of $9.58 billion of longs, exposing shorts to larger potential liquidation from the upside.
Aggressive short positioning is hinted at with negative funding rates throughout the weekend. Abbe predicts these positions will reverse soon enough for BTC to return above the $109,000 to $110,000 range in the coming week.
Analysts Watch for $100K Retest or Rapid Surge
Although some believe Bitcoin will climb now, others say a short-term retracement could follow first. CrypNuevo singled out $100,000 as a psychological and technical support area. He said the price level acted as a low-risk entry for new long positions with an inversion below it.
Bitcoin remains above the post-ATH retest zone on the weekly chart. The support structure underway is successful, according to Rekt Capital, noting that a close above $104,400 would see such a bullish sentiment reiterated and another month of sustained price support.
In a separate analysis, trader Cheds highlighted three signals supporting a mid-$250,000 Bitcoin price target by 2026. He pointed to a confirmed breakout from a multi-year cup-and-handle pattern, which often signals strong continuation moves in technical analysis.
Cheds also emphasized Bitcoin’s accumulation base between $16,000 and $70,000 as a major foundation for future growth. He argued that the consolidation range formed since 2021 offers enough depth to support an eventual breakout toward $200,000 and beyond. While dismissing the idea of reaching such heights in 2025, he maintained confidence in the trajectory for 2026.
Metaplanet Commits to Massive Bitcoin Accumulation
On the corporate side, Japanese firm Metaplanet expanded its Bitcoin acquisition strategy. The company revised its target from 21,000 BTC to 100,000 BTC by the end of 2026. CEO Simon Gerovich confirmed the new plan in a June 6 update on X.
Metaplanet currently holds 8,888 BTC after a recent 1,088 BTC purchase. To reach its updated goal, the company will need to acquire at least 91,112 BTC in the next 18 months, underscoring rising institutional conviction in Bitcoin’s long-term prospects.
