Bitcoin has regained momentum and climbed back above $65,000, but technical analysts remain cautious as the cryptocurrency battles a major resistance zone that could determine its next move.
A bearish market outlook shared on TradingView suggests that Bitcoin may still face downside pressure if buyers fail to maintain control above key resistance levels.
Key Resistance Zone in Focus
According to the analysis, Bitcoin recently struggled to break through the $64,500 to $64,700 range, an area that has acted as strong resistance in recent sessions.
The analyst believes sellers remain active around this level, and unless BTC firmly establishes support above it, the possibility of another downward move remains on the table.
At the time of analysis, Bitcoin was trading around $65,100, placing the market right at a critical decision point.
Bearish Targets: $62K First, Then $60K
If Bitcoin loses momentum and falls back below the reclaimed range, traders are watching two major downside targets:
- First Support: Around $62,200
- Major Bearish Target: Between $60,700 and $61,000
This lower zone is considered a significant area where buyers could attempt to regain control.
Why $64,700 Is So Important
The $64,700 level has become a battleground between bulls and bears.
If Bitcoin can hold above this area and convert former resistance into support, it could pave the way for a stronger recovery and potentially higher highs.
However, a failed breakout followed by a rejection below this zone would strengthen the bearish outlook and put lower price targets back into focus.
Market Volatility Remains High
Bitcoin has traded within a relatively tight range recently, moving between approximately $63,200 and $65,100. Such ranges often create volatile price swings, especially in leveraged markets where liquidations can accelerate moves in either direction.
What Traders Are Watching Next
The next few trading sessions could be decisive:
- BTC Above $64,700: Bulls regain momentum and may push prices higher.
- BTC Below $64,700: Bears remain in control, with $62,200 and $60,700 becoming key downside targets.
For now, Bitcoin sits at a technical crossroads, and the market is closely watching whether this recent breakout attempt can hold or if another wave of selling pressure is waiting around the corner.
