The key support and resistance levels ahead for BTC/USD are as follows:

  • Third key resistance level of BTC/USD: 72000
  • Second key resistance level of BTC/USD: 70000
  • First key resistance level of BTC/USD: 66400
  • First key support level of BTC/USD: 62600
  • Second key support level of BTC/USD: 60000
  • Third key support level of BTC/USD: 58100

$64,000 Bitcoin: The Beginning of an Upward Trend or a Continuation of the Correction?

As noted in the previous Bitcoin analysis dated 2026.07.08, there was potential for an upward move toward the $66,400 resistance level, a scenario that ultimately materialised.

Over the past two weeks, Bitcoin has fluctuated within a narrow trading range (forming two spinning top candlesticks), reflecting trader uncertainty regarding the future direction of the trend.

Bitcoin Fundamental Analysis Overview

Since the beginning of the year, a portion of investor attention and capital has shifted away from Bitcoin and its associated investment funds toward stocks and active funds in the artificial intelligence and chip manufacturing sectors.

The recent correction in this segment of the stock market could pave the way for capital to rotate back; however, capital flows into spot Bitcoin funds do not yet confirm a sustained and broad influx of liquidity.

Meanwhile, the resumption of US and Saudi attacks on Iranian-backed groups in Iraq, along with continued Iranian attacks against US targets, has increased the likelihood of a regional expansion of the conflict.

The bullish response in oil prices also demonstrates that the energy market is sensitive to this risk. Continued tensions could pressure Bitcoin and other risk assets by driving up energy costs, exacerbating inflation concerns, and reducing investors’ risk appetite; although, this impact will not necessarily be immediate or one-sided.

From an on-chain data perspective, further accumulation has been concentrated within a subset of large wallets, and the decline in Bitcoin inflows to exchanges points to a relative drop in selling pressure. In the short term, developments in the Middle East, capital flows in Bitcoin funds, and the US Federal Reserve’s messaging regarding inflation and the interest rate trajectory will be the most crucial fundamental drivers for the Bitcoin market.

Bitcoin Technical Analysis Overview

Bitcoin has managed to sustain itself above the key $60,000 level, but due to complex conditions and various factors influencing the crypto market, it has experienced weak growth over the past three weeks.

Given that the price is currently in an oversold condition (on the weekly timeframe), if the $66,400 resistance level is broken, Bitcoin’s upward path will become smoother, and buyers will attempt to capture the $70,000 resistance level, and in a more aggressive rally, up to $72,000.

In the alternative bearish scenario, if candlesticks break and stabilize below the $62,600 support level, a bearish warning will be triggered. Should this occur, the price will have the potential to drop toward the crucial $60,000 level.