Date: Tue, June 10, 2025 | 10:08 AM GMT
The cryptocurrency market is making an impressive upside move over the last 24 hours, with Bitcoin (BTC) leading the charge. The world’s largest cryptocurrency has bounced over 2.35%, pushing past the $109,000 level.
Source: Coinmarketcap However, a closer look at the technical setup suggests a short-term cooling-off period could be on the horizon.
Bearish Shark in Play
According to the latest analysis by crypto analyst @CryptoNewton , BTC has completed a Bearish Shark harmonic pattern on the 4-hour chart. This specific harmonic structure is often known for signaling a minor price correction before the continuation of a larger trend.
Bitcoin (BTC) 47H Chart/Credits: @CryptoNewton (X) The D-point, which completes the pattern, sits just below the $110,000 mark—a level that coincides with historical resistance from late May. With the pattern now fulfilled, Bitcoin may experience a brief pullback toward the $106,000–$107,000 area, which also acts as a potential retest of previous support.
Currently, BTC is trading around $109,200, and if the harmonic pattern plays out as expected, a minor drop of 2–3% could materialize in the short term. This could give bulls a chance to regroup before targeting higher levels near $112,000 and beyond.
What’s Next for Bitcoin?
While the broader uptrend remains intact, this harmonic signal is a reminder for traders to remain cautious during periods of strong rallies. A slight dip here would not negate the overall bullish outlook but could serve as a healthy correction to cool off overheated momentum.
However, the ongoing trade talks between the U.S. and China could play a critical role in what comes next. Any positive developments from those discussions might invalidate the current setup and fuel further upside for Bitcoin.
Traders should keep a close watch on the $106,000 support level. If BTC manages to hold that zone firmly, it could set the stage for another rally toward the $112,000 area and beyond.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
