The post Bitcoin Price Forms Head & Shoulders Neckline, ATH This Week? appeared on BitcoinEthereumNews.com.

Bitcoin price has climbed sharply over the last 24 hours, continuing its upward momentum from a recent bullish trend. The asset is currently trading above $107,000 after forming strong support levels. Major altcoins such as Ethereum, priced at $2,500 at the time of writing, are all showing a steady increase as well. XRP, Solana, and Dogecoin are making positive movements in the market today. The whole crypto market is witnessing this growth, as the total market capitalization went up to $3.34 trillion with an increase of 1.65% over the timeframe. Bitcoin Price Resurges Above Head & Shoulders Neckline Bitcoin price has bounced back above the pivotal Head & Shoulders neckline, shaking off what seemed like a breakdown. Initially, the price drop below the neckline triggered concerns among traders, but it now appears to have been a false alarm or a “trap.” With this recovery, Bitcoin is poised for more potential gains, showing signs of a fresh bullish phase. The fact that prices have climbed over the key level has caused some traders to feel more positive and hopeful, waiting for Bitcoin to rise further. As as the price stays above the neckline, the bullish trend is still in place and more gains can be seen soon. #Bitcoin Back on Track 🚀#BTC is now back above the Head & Shoulders neckline. What looked like a breakdown was just a trap. More upside potential ahead! 🚀 pic.twitter.com/vexmyVeQCT — Titan of Crypto (@Washigorira) June 9, 2025 Crypto Analyst Predicts Potential Breakout for BTC Price Crypto analyst Captain Faibik highlights that the Bitcoin price is currently forming a descending broadening wedge on the 4-hour chart.  This technical pattern suggests increasing volatility as the price fluctuates within wider bounds. The key level to watch is the resistance at $105,700, as a break above this price…

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Filed under: News - @ June 9, 2025 1:29 pm