Bitcoin Price Prediction: BTC Builds Pressure Near $63K With $65.4K in the Bulls’ Sights

For bulls, the first confirmation would be a decisive daily break above the descending trendline. Price would then need to clear the recent cluster of highs around $64,500 to $66,000 to show that the broader range is beginning to resolve upward. Beyond that zone, the chart places the 200-day SMA near $69,505, making roughly $69,500-$70,000 a much more significant resistance area.

The bullish scenario would weaken if Bitcoin loses the 50-day SMA and starts closing below the nearby $63,000 region. The descending trendline continues toward approximately $61,000 later in August, so a deeper breakdown could shift attention toward that area and the lower part of the recent trading range.

Bitcoin Rebound Setup Targets $64,500-$65,000 Resistance

Bitcoin’s short-term setup has improved after price reacted from the $62,800 area, but the chart still shows important resistance overhead and unresolved liquidity below. Kaz’s analysis favors a near-term rebound first while keeping the broader downside risk intact.

Bitcoin Rebound From $62.8K Support. Source: Kaz on X

The chart shows Bitcoin rejecting the $62,800 area, which Kaz identifies as an order-block zone and an important level for potential long positions. Price bounced from that region after the decline, suggesting buyers are defending support in the short term.

The first upside target sits around $64,500 to $65,000. The chart marks this region as a strong resistance zone where the recent equal highs are concentrated. A rebound into that area could therefore meet renewed selling pressure rather than immediately develop into a broader breakout.

Bitcoin would need to push above roughly $65,400 to strengthen the bullish scenario. According to the chart, a confirmed break above that level could open the way toward the $67,000-$68,000 region, which Kaz identifies as the next major upside zone.

However, the downside setup has not disappeared. The chart highlights equal lows near $62,200, an area where liquidity remains unswept. If Bitcoin fails to hold its rebound and turns lower, those lows could become the next target.

Kaz also separates the short-term and higher-time-frame outlooks. While the lower-time-frame bias favors a recovery toward $64,500-$65,000, the analyst expects a deeper move toward approximately $61,300 at some stage. That remains a scenario rather than a confirmed destination, especially while Bitcoin continues to defend the $62,800 region.

The practical signal is therefore straightforward: $65,400 is the key upside breakout level, while $62,200 remains the main downside liquidity target. Until either side gives way decisively, Bitcoin remains caught between a short-term recovery setup and broader downside risk.