Is Bitcoin Bullish in June?

Late last week, Bitcoin showed clearer signs of bearish price delivery, potentially setting the stage for a deeper correction toward lower price levels. Given Bitcoin’s traditional influence over the broader crypto market, this analysis carries added weight, as its movements often ripple across altcoins.

Bitcoin technical analysis

BTCUSD - 1 Day Time Frame

Since April, Bitcoin has been exhibiting bullish behavior, supported by strong price momentum and a breakout above its previous all-time high.

Along the way, several support zones have formed, and if a correction unfolds, these areas will serve as likely downside targets. Additionally, the market structure has established several Sell-Side Liquidity (SSL) levels, which often act as magnets for retracement moves.

In this context, a combination of key technical factors can be monitored: liquidity levels, two strong support zones, and the 0.5 Fibonacci retracement level, which marks the boundary between the "Premium" and "Discount" zones of the recent price development.

Returning to the bearish price delivery mentioned earlier, the price has also established a strong resistance area, which provides a more solid technical ground for short-term selling positions.

While shorting in a strong uptrend always carries risk, such corrections can offer opportunities—especially for traders who missed the initial bullish move and are now seeking a fresh entry.

However, for this scenario to remain valid, specific conditions must typically be met: a liquidity sweep of Sell-Side Liquidity (as highlighted on the attached chart), followed by a close above the resistance zone, similar to the one marked in orange.

When these conditions are fulfilled, the correction setup is strengthened and gains greater technical validation.