The chart shows Bitcoin consolidating below a descending trendline while testing a horizontal resistance zone around $65,000. Price has been making higher lows after the June bottom, but buyers still need to reclaim the resistance area to confirm bullish continuation.

Current Structure
📈 Recovery from the June lows remains intact.
📉 BTC is still trading below short-term descending resistance.
⚖️ Price is compressing beneath $65,000, suggesting a breakout or rejection is approaching.
Key Levels

🟢 Support

$63,000–63,500 (immediate support)
$60,000 (major support)
$57,800 (key swing low)

🔴 Resistance

$65,000–65,500 (horizontal resistance)
Descending trendline
$68,000–70,000 (next major resistance)
Bullish Scenario

A daily close above $65,500 and the descending trendline would confirm a bullish breakout.

Upside Targets

🎯 Target 1: $68,000
🎯 Target 2: $72,000
🎯 Target 3: $78,000–80,000
Bearish Scenario

If BTC is rejected from resistance and loses nearby support:

Downside Levels

📉 $63,000
📉 $60,000
📉 $57,800 (major support)

A breakdown below $57,800 would invalidate the current recovery and strengthen the bearish outlook.

Market Outlook

Bitcoin is neutral with a bullish bias as it continues to build higher lows beneath resistance. The $65,000–65,500 area is the key level to watch. A confirmed breakout could trigger the next impulsive move higher, while rejection would likely keep BTC range-bound or lead to another pullback.