Technical analysis by ScottMelker about Symbol BTC on 6/12/2025

Bitcoin may be forming a *lower high* on the daily chart, with the most recent rally stalling at \$110,000 – just below the previous high near \$112,000. That failure to reclaim the prior high is an early sign of weakening momentum and suggests the strong uptrend that’s been in place since April might be losing steam.The critical level now is \$100,000. That’s the most recent swing low, and it serves as the key structural support in this current move. A daily close below that level would confirm a *lower high–lower low* sequence, shifting the short-term trend from bullish to neutral or even bearish. If that happens, downside targets open up around \$97,000 – the next clear support – followed by \$95,500, where the rising 200-day moving average now sits.Momentum indicators support this caution. RSI is trending down and making lower highs, showing a loss of bullish strength. Volume has also declined during recent rallies, hinting at buyer exhaustion rather than healthy consolidation.For the bulls to retain control, the 50-day moving average near \$103,000 needs to hold. If that level fails, a test of \$100,000 is likely. On the flip side, a strong move back above \$110,000 would invalidate the lower high setup and put the breakout narrative back in play.Right now, the market is at a decision point. The trend hasn’t broken yet, but structure is starting to crack. A confirmed lower high at \$110,000 – followed by a break below \$100,000 – would mark the first significant trend shift on the daily chart in months.