Bitcoin briefly dipped below its $106,000 local range low, triggering a key support sweep that many traders are watching closely for signs of a bullish deviation.
According to crypto analyst Daan Crypto Trades, this move could become a positive setup — but only if BTC manages to reclaim its previous range.
“Things will get interesting if we accept back into the range,” Daan noted, emphasizing that failure to do so would sideline his trading activity heading into the weekend.
His chart outlines two possible scenarios: a bullish case where BTC reclaims the range and targets $110K–$112K, or a bearish outcome if price gets rejected and fails to regain support.
Amid the pullback, Nick Forster, founder of Derive, offered a broader perspective, calling the current market behavior “healthy consolidation” rather than a bearish breakdown.
“While the recent rally above $111,000 in Bitcoin is noteworthy, the current price action suggests a consolidation phase rather than an imminent uptrend or downtrend,” Forster explained. “Such a consolidation would be healthy ahead of another significant rally.”
He added that this period allows the market to digest recent gains and recalibrate before resuming upward momentum. Forster also pointed out that, historically, Q3 has been weak for Bitcoin, but said 2025 could break that trend due to regulatory clarity and institutional inflows.
“With positive factors like regulatory changes and institutional interest, Bitcoin could deliver exceptional performance in Q3 this year,” Forster said, adding that the Federal Reserve’s June 18 interest rate decision could serve as a major catalyst.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/bitcoin-sweeps-106k-support-consolidates-ahead-of-potential-q3-surge-analysts-weigh-in/