Bitcoin Stuck Below $65K, Eyes on $60K Support Zone
Bitcoin continues to struggle below the $65,000 level, as repeated failures to break above it keep buyers from gaining momentum. According to Daan Crypto Trades, this shows that buyers have yet to regain control of the market, while stocks continue to outperform cryptocurrency.
The weekly chart for BTC/USDT shows Bitcoin trading near $63,000 after another failed attempt to move above $65,000. This level has become a major hurdle for buyers, with recent rallies repeatedly losing momentum near that area.
A larger resistance zone appears around $72,000 to $74,000, which has acted as an important support and resistance region during previous market swings. A sustained move above this zone would strengthen the case that Bitcoin is rebuilding its broader bullish structure.
On the downside, the chart highlights the 0.618 Fibonacci retracement near $57,825 as a key level of support. Daan Crypto Trades said he continues to accumulate Bitcoin gradually while keeping additional capital available in case prices fall further.