Bitcoin is trading near $64,750 after recovering from its late-June low near $58,000, with technical analysts identifying resistance at $65,600-$72,000 and support around $62,500. Analysts Kaz and More Crypto Online characterize the rebound as corrective, highlighting unswept equal highs near $65,600 and lower liquidity levels at $61,807, $61,540, and $61,305. The recovery from the late-June low remains within a corrective structure according to chart analysis, with resistance zones and a descending trendline adding pressure to upside attempts.
Kaz Identifies Liquidity Sweep Scenario Above $65,600
Analyst Kaz presents a chart interpretation treating a potential move above $65,600 as a possible liquidity sweep rather than the beginning of a rally toward $68,000-$70,000. The equal highs near $65,600 remain unswept according to the chart, making them a natural short-term target where a brief break above that level could trigger stop orders and pull late buyers into the market.
Kaz's analysis identifies several untouched liquidity levels below current prices at $61,807, $61,540, and $61,305. The chart shows a rounded structure near the recent highs supporting a lower-high scenario. The analysis notes that a sustained move above $65,600 would weaken the interpretation of a liquidity sweep setup.
More Crypto Online Labels Recovery as ABC Correction
More Crypto Online characterizes Bitcoin's rebound from the late-June low as an ABC correction rather than the start of a confirmed bullish trend. The chart labels the recovery structure with the first advance forming wave A and the following pullback forming wave B, with price having recovered toward $64,750.
The analysis identifies resistance barriers at $66,000, where earlier rebounds lost momentum, followed by additional resistance near $69,000 and $72,000. A descending trendline adds pressure around the same area according to the chart. The analysis notes that losing nearby support around $62,500 could return attention to $61,000 and then the late-June lows near $58,000.
FAQ
What resistance levels do analysts identify for Bitcoin's current rebound?
Analysts identify equal highs near $65,600 as the first resistance level, followed by a broader resistance zone between $66,000 and $72,000. More Crypto Online's chart specifically highlights resistance near $66,000 where earlier rebounds lost momentum, with additional barriers at $69,000 and $72,000 coinciding with a descending trendline.
What support levels are identified below Bitcoin's current price near $64,750?
Kaz's analysis identifies untouched liquidity levels at $61,807, $61,540, and $61,305 below current prices. More Crypto Online notes nearby support around $62,500, with further support at $61,000 and the late-June lows near $58,000 if the $62,500 level fails to hold.
How do analysts characterize Bitcoin's recovery from the late-June low?
More Crypto Online labels the recovery as an ABC correction rather than the start of a confirmed bullish trend, with the structure lacking the strength needed to overturn the previous decline. The analysis treats the current rebound as corrective, with wave A representing the first advance and wave B representing the following pullback.
