bitcoin 64000 test remains the main hurdle after the token steadied near $63,100, with buyers still needing to retake higher resistance to confirm a recovery.
Bitcoin held above the previous month’s lower value boundary near $62,380 after buying emerged around $62,535. That defense helped price recover toward $63,100. However, the move has not yet turned into a confirmed bullish shift.
Buyers first need to push through resistance at $63,130-$63,175. After that, the next area to clear stands at $63,247-$63,270. The source said repeated struggles near $63,150-$63,175 showed that buyers slowed the drop, but did not yet lift Bitcoin into a clearly higher range.
Bitcoin 64000 Test Stays Central
The source identified $64,000-$64,095 as the main recovery zone. It said a lasting move back above that area would matter more than a short bounce near $63,000. Moreover, the point of control near $64,095 marked the price with the most trading activity during the previous month.
Bitcoin was about $720 above the monthly value area low near $62,380, but almost $1,000 below the monthly point of control. Therefore, holding above $62,380 showed demand had not fully broken down inside the prior range. However, staying below $64,095 meant buyers had not regained control of the broader value structure.
The source said bullish confirmation would require repeated closes, consolidation, or a successful retest above $64,095. If that happens, the next major value-area objective would be about $65,050.
Support Levels Remain in Focus
The broader support zone at $62,380-$62,535 remains the key defended area. Meanwhile, failure to hold $62,920-$62,800 would weaken the current short-term base and raise the chance of another test of $62,535.
A more serious bearish signal would come from sustained trade below $62,380. The source said that would place Bitcoin outside the previous month’s accepted value area and suggest the market may need to look for demand at lower prices. Still, it also noted that a brief move below that level would matter less than repeated closes or continued trading beneath it.
The source added that the latest daily, four-hour, and one-hour candles were incomplete when the analysis was prepared. It also said exchange-specific Bitcoin prices may differ slightly.
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Source: InvestingLive
