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Analyst: If Bitcoin breaks through the key resistance level of $64,700, it may rise to $68,000
BlockBeats message, July 12: Crypto analyst Ali Charts posted that Bitcoin’s current focus should be the $64,700 level—this position is a key inflection point for Bitcoin’s next major round of movement.
If Bitcoin fails to break above the top of the channel at $64,700, it may trigger a deeper pullback. If sellers defend this level, Bitcoin could drop back to the channel’s mid support at $63,000, and may further test the channel bottom at around $61,500.
However, Ali Charts said that if Bitcoin can achieve an hourly-level closing above $64,700, the bearish outlook would be invalidated. After breaking this resistance level, Bitcoin could further rise to $66,400, with the second target at $68,000.