Bitcoin Faces Crucial Test at Descending Trendline Near $65K

Bitcoin is facing a critical test as it approaches a descending resistance line near $64,000-$65,000, a trendline that has already rejected price twice. This latest move near $64,765 is at an important technical decision point.

The daily chart shows Bitcoin approaching the downward-sloping trendline that capped two earlier recovery attempts. The trendline begins near the late-2025 high above $120,000 and connects with another rejection around the $80,000 region in May 2026.

A third rejection would keep the bearish structure intact, while a sustained daily breakout would weaken it. In this scenario, traders would likely watch the recent July lows as the first area where buyers need to defend the market.