Bitcoin price approached the $67,000 mark again on June 15, recovering 13.25 percent from the local bottom below $60,000. Risk appetite in global markets gained strength after the preliminary ceasefire between the USA and Iran; It is reported that the decline in oil prices has also alleviated short-term inflation concerns.
Possibility of double bottom in technical outlook
On the three-day Bitcoin chart, there is a possible double bottom reversal formation near the $60,000 support zone. BTC received a reaction around 60 thousand dollars for the second time in 2026. This chart indicates that buyers continue to defend the same demand zone that worked in previous corrections.
While the first bottom occurred in the retreat in March, the last bounce came after the sharp selling wave in June. It is stated that this structure can remain valid as long as Bitcoin remains above 60 thousand dollars. The neckline of the formation is around 81 thousand dollars. If there is a strong close above this level, the possibility of a measured movement that could reach 108 thousand dollars in August or September may come to the fore.
It is evaluated that if Bitcoin holds on to the $60,000 support, the double bottom structure can be preserved, and a strong close above $81,000 can technically confirm the $108,000 scenario.
Weekly RSI data supports the bullish scenario
On the weekly chart, there is a positive divergence between the price and the relative strength index RSI. While the Bitcoin price made a lower bottom in the $60,000 to $65,000 band, the weekly RSI made a higher bottom. This indicates that the momentum is weakening, although selling pressure continues.
It is reminded that a similar divergence was also seen near the bottom of the 2022 bear market. During that period, the RSI recovered, and the price exhibited a broader rise that followed in the following months. Analyst Jelle also stated in his assessment on Monday that Bitcoin may follow a structure similar to the end of 2022 in the coming months.
Analyst Jelle stated that Bitcoin may move similar to the last period of 2022 in the coming months and the current picture strengthens this possibility.
In the short term, the $66,700 threshold stands out
However, in the short-term outlook, risks have not completely disappeared. BTC is testing the resistance zone where the upper trend line of the bear flag and the 20-day exponential moving average intersect around $66,700. If this area is not exceeded, it is likely that the price will retreat to the lower trend line around $63,600.
A bear flag breakout can be confirmed if there is a daily close below the lower line. In this scenario, the technical target is calculated to be 53 thousand 850 dollars. The decline in transaction volume while the formation was forming supports the comments that the reaction may be a correction rather than a permanent return.
Whale movements increase selling pressure
On-chain data also supports the short-term cautious outlook. CryptoQuant analyst Darkfrost noted that after the last correction, there was a significant increase in the amount of Bitcoin sent by major investors to Binance. According to the data, the average daily transfer of wallets holding more than 100 thousand BTC to the stock exchange increased to 3 thousand 200 BTC in the last month. At the end of April, this figure was at the level of 1 thousand 200 BTC.
CryptoQuant is known as an analysis platform that offers on-chain market data. Whale inflows, on the other hand, refer to the transfers of wallets holding large amounts of crypto assets to exchanges and are closely monitored to monitor possible sales pressure.
Darkfrost noted that many large investors appear to have increased their selling activity or willingness to sell during the recent decline.
