Bitcoin Price Faces Critical $65.8K Resistance as Bulls Target $70K Breakout
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Bitcoin is testing the key $65,800 resistance after an 8% July rebound. Here’s what could determine the next BTC move. | Credit: CCN.com
Key Takeaways
- BTC has recovered above $64,000 but faces strong resistance between $65,700 and $65,800.
- Bitcoin is trading above its 20-day EMA, and the hourly charts show bullish momentum, with the price holding above all major moving averages.
- Shrinking stablecoin market capitalization and rising whale inflows to exchanges suggest liquidity remains weak and profit-taking could limit further upside.
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Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors.
Upon relocating to London, he worked as an analyst for Fitch’s CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
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