Bitcoin’s price briefly dropped to $64,600, likely due to negative trends in the U.S. stock market, but the upward climb that began in July appears to be continuing. The next goal is for Bitcoin to surpass $67,000. Now, the question is whether buyers will maintain this momentum.
Bounce takes place – higher high next?
Looking at the 4-hour chart, Bitcoin’s price briefly dipped but then rebounded off a short-term trendline. As long as the price stays above the $65,600 level, this temporary dip isn’t concerning.
For the price to continue rising, buyers need to push it above $67,000, and ideally to around $67,250. Reaching this level would surpass the previous peak from mid-June and confirm a continuing upward trend.
If this recent price increase stalls, it could fall back into its previous upward trend, leaving buyers disappointed. This would likely cause the price to drop towards the established support level, giving sellers an advantage.
$BTC price in good place for next higher move
Looking at the daily chart, Bitcoin’s price is currently at a key level. If the price confirms a breakout from its recent downward trend, it’s likely we’ll see a price increase. This move could push the price above the $65,600 resistance level and continue the overall upward trend.
However, if the price drops below both the upper channel line and the recent short-term trendline, it will likely fall back to the major upward trendline. It could even go lower, potentially reaching the bottom of the channel and creating a new low for the bear market.
Rally to $73K – stock market allowing
With several days left in the week, how the weekly candle closes is key. If it closes above $65,600, that would be a very positive sign for buyers and could pave the way for Bitcoin’s price to rise above $73,000 – the next significant level of resistance.
Recently, there’s been renewed interest in Bitcoin, with U.S. exchange-traded funds (ETFs) starting to see money flowing back in after a period of withdrawals. This follows reports that large investors – often called ‘whales’ – were buying Bitcoin when the price dropped to $60,000 or lower. After seven consecutive days of purchases, inflows paused briefly on Thursday, but the overall trend is now positive.
As I’ve been monitoring the markets, the U.S. stock market is a key area to watch. We saw a significant drop yesterday with disappointing earnings reports from companies like Tesla and Google. This raises a concern: if AI stocks start to fall, what will be left to support the overall market? I don’t think Bitcoin could maintain its recent gains in that kind of environment. I’m looking for the S&P 500 to bounce back today, but a failure to do so would be a worrying sign.
2026-07-24 13:33