Bitcoin Price Hinges on Crucial Support Zone at $64,736
The price of Bitcoin has retreated to the lower trendline and the 64,736 area after being rejected from the upper band of its rising channel.
This pullback is not just a routine correction, as three key levels converge in this zone:
- The rising channel support,
- The previous horizontal breakout zone,
- The short-term buyer zone.
If Bitcoin can reclaim and hold above 64,736 for four hours, it may simply be a healthy retest.
In this scenario, the upper channel band and the 66,500-67,000 region would come back into focus.
However, if price remains below 64,736 and fails to reclaim the rising trendline, the current structure begins to weaken.
If that happens, the first key target becomes 61,307. If price falls below 61,307, the demand zone around 60,000 becomes the primary decision area.