Bitcoin is trying to hold the $64,000 area after the latest Federal Reserve decision failed to trigger a decisive breakout. Two technical charts point to continued downside risk unless BTC reclaims nearby resistance and breaks its broader pattern of lower highs.
Bitcoin Faces Heavy Resistance Above $64,000
Bitcoin’s four-hour chart shows price consolidating near $64,100 after bouncing from last week’s low around $62,800. The recovery has yet to break the short-term bearish structure, leaving traders focused on liquidity above recent highs and support below the current range.
Bitcoin Four-Hour Chart. Source: Lennaert Snyder (@LennaertSnyder) on X
The first resistance area sits near $64,800-$65,100, where several recent highs have formed. A brief move above those levels followed by a rejection could create the liquidity sweep described by Snyder, meaning Bitcoin would trigger orders above the highs before reversing lower.
The chart also marks a second potential rejection area near $65,800. Beyond that, the previous weekly high around $66,970 forms the strongest visible resistance zone. Bitcoin would need to reclaim that region and hold above it to weaken the immediate bearish outlook.
Until then, the lower support levels remain exposed. The first downside target sits near $62,500-$62,800, close to the recent swing low. A clear breakdown could send BTC toward $60,000-$60,500, where the chart identifies a wider demand zone.
The bearish setup would lose credibility if Bitcoin closes firmly above $65,800 and then converts the level into support. Such a move could open the way toward the previous weekly high, while continued rejection below $65,100 would keep sellers in control.
The practical takeaway is that Bitcoin remains trapped between nearby resistance and a large pool of orders below recent lows. Traders may need confirmation on either side of the range before treating the next move as sustainable.
Weekly Bitcoin Chart Warns of a Deeper Drop Below $50,000
The second chart presents a longer-term Bitcoin price outlook. It shows BTC trading beneath a descending trendline that has guided the market lower from its previous peak.
Bitcoin Weekly Chart. Source: Jesse Olson (@JesseOlson) on X
Bitcoin is testing the intersection of the falling trendline and a long-term rising support line near the low-$60,000 area. This creates an important decision zone because the two technical levels are converging as weekly momentum remains weak.
Olson expects Bitcoin to form a future bullish divergence after another decline. A bullish divergence occurs when price records a lower low while a momentum indicator forms a higher low, suggesting that selling pressure may be fading. However, that signal cannot be confirmed before the projected decline and indicator reaction occur.
The chart outlines a possible move into the $45,000-$50,000 region over the next several months. This is a scenario rather than a confirmed target, and Bitcoin would first need to lose the support cluster near $62,000-$64,000.
A weekly recovery above the descending trendline would challenge the bearish projection. BTC would then need to reclaim approximately $68,800 to show that momentum is shifting and that buyers are regaining control of the broader structure.
For now, both charts point to fragile support near $64,000. A break below $62,500 could bring $60,000 into focus, while sustained weekly weakness would increase the risk of a deeper correction toward $50,000.
