Tools: BTC, Time frame: 4H, tools: SMA20Tools: BTC, Time frame: 4H, tools: SMA20

Recovery Structure Remains Intact

Bitcoin continues to trade within a rising channel, reflecting the continuation of its recovery phase following the sharp selloff witnessed in early June. Price action continues to form a sequence of higher lows, highlighting improving risk sentiment and greater stability in the short-term trend.

Holding Above Dynamic Support Levels

The price is currently trading around the $64.1K–$64.2K area, maintaining its position above the Bollinger Band basis located near $63.5K–$63.6K. This suggests that buyers continue to hold the upper hand in the near term, although bullish momentum has yet to reach levels that would signal a stronger upward acceleration.

A Break Above Resistance Could Open the Door to Further Gains

The upper boundary of the ascending channel sits just above current prices, reinforcing the significance of the $65K area as a key resistance level. Should Bitcoin successfully break above this zone and establish a sustained close beyond it, bullish momentum could strengthen further, paving the way for a move toward the $66.8K–$67.2K region, where previous selling pressure emerged.

Channel Support Continues to Protect the Uptrend

On the downside, the $61.5K–$62.0K area remains a critical support zone for buyers, having repeatedly attracted demand during previous pullbacks. As long as the price remains above this region, the integrity of the ascending channel remains intact and the broader bullish outlook is preserved.

Momentum Improving Gradually

The Relative Strength Index (RSI) is currently hovering around 53–54 after reclaiming the neutral 50 level, reflecting a gradual improvement in bullish momentum. However, further strength is still needed to confirm the continuation of the uptrend and support a breakout above the $65K barrier.

Technical Outlook

The bullish bias remains valid as long as Bitcoin continues to trade above channel support. Nevertheless, the $65K region remains the key technical hurdle for buyers, with a successful breakout and sustained move above this level likely to determine the next leg of the recovery and open the door for higher price targets in the sessions ahead.