Bitcoin is trying to reclaim key resistance after retesting a broken short-term wedge. A clean move through the $65,000-$67,000 zone could weaken the bear case and put buyers back in control.
Bitcoin Retests Broken Wedge as Bulls Defend Key Resistance
Bitcoin is testing a critical level after breaking below a rising wedge pattern and attempting to reclaim it from underneath.
According to Man of Bitcoin, the BTC/USD 1-hour chart shows price retesting the former wedge support, now acting as resistance, near $64,366. The outcome of this retest could determine whether Bitcoin resumes its recovery or faces another rejection.
BTC/USD 1-Hour Chart. Source: Man of Bitcoin (@Manofbitcoin) via TradingView
The chart suggests Bitcoin has completed the initial breakdown from the rising wedge and is now challenging the structure from below. The $64,366 level aligns with immediate resistance and has emerged as the key threshold for short-term price action.
According to the analysis, a sustained move above this barrier would invalidate the bearish implications of the wedge breakdown and could pave the way for further upside. In that scenario, Bitcoin could target the 100% Fibonacci extension level at $66,183, which marks the next major resistance area.
However, the bullish outlook depends on Bitcoin reclaiming and holding above $64,366. Failure to do so could confirm the retest as resistance and increase the likelihood of another move lower toward nearby Fibonacci support zones.
For now, traders are watching whether Bitcoin can reclaim the broken wedge and push toward $66,183, or whether sellers will regain control at a critical technical level.
Bitcoin Holds Key Support as Bulls Target Major Resistance
Bitcoin's recent price action remains constructive as bulls defend critical support levels and attempt to regain higher ground.
According to SuperBitcoinBro, the BTC daily chart shows Bitcoin holding above both the weekly 200-period simple moving average (SMA) and the February lows, while also closing above Friday's high. The analyst argued that several previously discussed bearish patterns, including a bear pennant, bear flag and rising wedge, have failed to materialize.
BTC Daily Chart. Source: SuperBitcoinBro (@SuperBitcoinBro) via TradingView
The chart highlights Bitcoin stabilizing above the weekly 200 SMA and the monthly 50 SMA, two levels often viewed as important gauges of longer-term trend strength. Price has also rebounded from the early June decline and reclaimed short-term momentum.
However, Bitcoin still faces a significant test between $65,000 and $67,000. This zone aligns with the previous swing low and the Volume Point of Control (POC), making it a key area where sellers could re-emerge.
According to the analysis, a decisive move through this resistance range would significantly weaken the bearish case and reinforce the view that Bitcoin's broader uptrend remains intact. Conversely, failure to break above the zone could keep BTC locked in consolidation.
For now, traders are watching whether Bitcoin can push through the $65,000-$67,000 barrier and strengthen the bullish outlook, or whether resistance will once again stall the recovery.
