Bitcoin Stuck Near $65K as Momentum Fades
Bitcoin's price remains stuck in a broader consolidation structure, unable to generate convincing bullish momentum. The latest recovery attempt has brought the price near $65K, but it still lacks strong support.
The daily chart shows that Bitcoin is trading around $65K after recovering from the late-June lows. However, this rebound continues to lack strong bullish momentum, with recent candles becoming relatively compressed as the price approaches the $65.8K-$66.8K resistance zone.
This area has already capped previous recovery attempts and is now reinforced by a descending white trendline approaching from above. Moreover, Bitcoin remains well below the declining moving averages, leaving the broader market structure tilted to the bearish side despite the recent stabilization.
A decisive daily breakout above the $65.8K-$66.8K zone and the descending trendline would improve the outlook, while another rejection could shift attention back toward the major $57.8K-$60K demand region.