Bitcoin is on a winning streak, climbing for the fourth day in a row as renewed optimism around US-China trade talks boosts risk appetite across global markets. After facing resistance just above the key $100,000 mark last week, Bitcoin (BTC) has rebounded strongly, gaining over 1.5% in early US trading on Monday and reclaiming more than 61% of its recent pullback from all-time highs .
This positive momentum is underpinned by a shift in market sentiment. Investors are feeling more confident as discussions between the US and China signal a possible easing of trade tensions, which has historically supported riskier assets like cryptocurrencies. The technical outlook for Bitcoin has also improved: daily moving averages are now fully bullish, and the price action is supported by a thickening daily Ichimoku cloud—a sign that buyers remain in control .
However, traders should keep an eye on a few caution flags. The stochastic indicator is signaling overbought conditions, and the 14-day momentum remains just below its centerline, suggesting that the rally could pause or consolidate before the next leg higher. For the bullish trend to continue, Bitcoin needs to close above both the 50% Fibonacci retracement level and the daily Kijun-sen (around $106,198). If this happens, the next targets are $109,270 (the 76.4% Fibonacci level) and the psychological $110,000 mark.
Key Levels to Watch
• Resistance: $108,966, $109,297, $110,000, $110,802
• Support: $106,572, $106,198, $104,854, $103,162
Broader Market Context
The current rally comes as the broader crypto market starts the week on a positive note, with several altcoins also posting gains. Analysts remain optimistic about Bitcoin’s prospects for June, with many forecasting a trading range between $100,000 and $120,000 as long as key support levels hold . A decisive move above $112,000 could open the door to further gains toward $120,000 or higher by mid-to-late June.
