BTC Forms Higher Low: Next Higher High at $70K Loading? (June 2026)

Amid further talks between the US and Iran in Switzerland following yet another closure of the Strait of Hormuz, the $BTC price was still able to mark a higher low at around $62,200. If the bulls can keep the momentum going after a recent bounce from $63K, the next target could be $70K.

Bear flag breakdown, but bulls are fighting back

Source: TradingView

As can be seen by the 4-hour chart the $BTC price did in fact break down from the bear flag structure, and a retest and confirmation of the breakdown has now taken place. That said, this particular battle between the bulls and the bears is not over yet. $63K has acted as support, and it now remains for the $BTC price to get above a small descending trendline.

The RSI is showing that the indicator line broke out of the descending trendline and is now following an ascending trendline to the upside. It is important for the bulls that the indicator line stays above this trendline.

$70K target if $64K and $66K can be broken

Source: TradingView

A redrawing of the small bear flag in the daily view perhaps provides a better fit, and also means that all the price action since this bear flag began is now inside of it. The chart also shows that the $BTC price is struggling to get above $64K, with the main $66K horizontal resistance level not far above this. If both of these levels can be broken and held above, $70K could certainly come into play.

The RSI for this time frame reveals that the indicator line is possibly heading back toward the 70 level which it reached at the tops of both the previous two big bear flags. As long as the indicator line stays above the uptrend line, positive price action is likely to continue. If it breaks down, beware.

Did the $59K low retest the bear market trendline?

Source: TradingView

The weekly chart illustrates that the potential enveloping candle did not materialise. Instead, the latest weekly candle held $66K as resistance again, but also held $63K as support. Given that the bull market trendline is rising up to meet these levels, a definitive break to the upside or the downside cannot be far away.

A new development has arisen in the Stochastic RSI, whereby the indicator lines were coming down quickly as of the end of last week. However, at the beginning of this week the blue fast line is now posturing to head sideways. Is this a short pause en route to the bottom, or could this be the beginning of a turn back to the upside?

Also, one thing to consider regarding the bear market trendline. Could it be that the $59,600 bottom can be taken as a retest of the trendline? The $BTC price didn’t quite get to the trendline, but it might be taken as good as. If this is the case, as was the case back at the bottom of the previous bear market, the new bull market could be about to begin.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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