Bitcoin Consolidation Traps Price Between $62K and $66K Resistance
Bitcoin is trading within a well-defined consolidation range after failing to recover from its late June lows.
The price action has stabilized above key support, but the broader structure remains neutral to bearish due to overhead resistance capping every rally.
The Coinbase Premium Index remains in negative territory, indicating that US spot demand has yet to return in a convincing manner.
On the daily chart, BTC continues to trade around $63.5K after spending several weeks ranging beneath the $67K resistance zone.
This area has repeatedly rejected bullish advances and now represents the first major hurdle for buyers.
The broader trend remains bearish as the price continues to trade below both the 100-day and 200-day moving averages, which are sloping downward around the $68K and $70K regions, respectively.