Bitcoin faced renewed selling pressure near the 64,360 dollar level, an area it has tested several times in recent days. While a fresh bullish signal emerged on the four-hour chart, hinting at a possible short-term recovery, it remains uncertain whether this upward move will prove sustainable.
Key resistance at 64,360 dollars limits upward move
According to market analyst Ali Charts, Bitcoin is once again challenging the 64,327 to 64,360 dollar range in recent trading. This region has repeatedly served as a ceiling, stopping upward momentum multiple times in the recent past.
Chart data show that the price retreats each time it nears this resistance area. This pattern highlights 64,360 dollars as a strong short-term selling zone. Each new rejection and subsequent decline has only reinforced the technical significance of this level.
Analysts note that if Bitcoin manages a strong close above 64,360 dollars, it could break the cycle of repeated rejections and potentially set the stage for a rise towards the 65,600 to 67,200 dollar band.
On the other hand, a confirmed breakout has yet to materialize. If buyers cannot absorb the selling pressure near 64,360 dollars, Bitcoin may remain locked in its current sideways channel or even retreat to lower support levels.
Here are several technical levels being closely watched:
| Level | Technical significance |
|---|---|
| 64,327 to 64,360 dollars | Key short-term resistance zone |
| 65,600 dollars | Possible next resistance |
| 67,200 dollars | Upper zone to watch if resistance breaks |
Early recovery signal seen on four-hour chart
Another market analyst, Skew, highlights that Bitcoin has shown its first sign of shifting from a bearish to a bullish trend on the four-hour perpetual futures chart. This marks the first such positive signal on this timeframe since the period when Bitcoin was trading above 80,000 dollars.
According to the analysis, after a prolonged decline from the 80,000 dollar region, Bitcoin saw heavy selling at the start of June but has since settled into a more balanced posture. The recent uptick has propelled the price above short-term trend indicators, indicating a possible return of bullish momentum.
Skew emphasizes that while this signal on the four-hour indicators is not definitive proof of a broader trend reversal, it does suggest that short-term momentum is strengthening again.
Nonetheless, Bitcoin continues to trade below several resistance levels on higher time frames. If the current upward move fails to hold, the market could return to its tight trading range or see weakness resurface.
At this stage, market participants remain focused on whether Bitcoin can decisively surpass the 64,360 dollar resistance and whether the bullish signal on the four-hour chart will turn into a broader recovery.
