Crypto analyst Ali Charts said $64,700 is the key level to watch for Bitcoin’s next move. In his view, failure to break above the top of the current channel at $64,700 could open the door to a deeper pullback. If sellers defend that area, Bitcoin may fall back to the channel’s mid-range support at $63,000 and could then test the lower boundary near $61,500. Ali Charts added that a bearish setup would be invalidated if Bitcoin posts an hourly close above $64,700. If that happens, the next upside target could be $66,400, followed by a second target at $68,000, according to his analysis.
According to BlockBeats, crypto analyst Ali Charts said on July 12 that $64,700 is the key inflection point for Bitcoin’s next major move.
He said that if Bitcoin fails to break above the top of the channel at $64,700, it could face a deeper pullback. If sellers hold that level, BTC may retreat to the channel’s mid support at $63,000 and could then test the lower boundary near $61,500.
Ali Charts also said a bearish view would be invalidated if Bitcoin records an hourly close above $64,700. A break of that resistance could send BTC toward $66,400, with a second target at $68,000.
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