$BTC Bitcoin is currently stuck below the $64,700 resistance level, and how this level is tested appears to determine the direction of future movement.

Instead of sticking to a single scenario, considering two alternative possibilities beforehand is a sensible approach, especially during such a volatile period. Currently, the main critical area is $64,700, and how the price reacts to this level defines two different paths.
In the blue scenario, if the price fails to maintain its position above $64,700 after liquidity is taken, this could be interpreted as a rejection signal, and selling pressure may increase. In this case, the first important level to watch is the $61,291 support. The main expectation is a test of the resistance, followed by rejection and a pullback towards $61,291.
In the red scenario, if strong buying emerges from the $61,291 region, the price could retest the $64,700 resistance. If this second attempt results in a significant breakout above the level, turning it into support, then the new liquidity zones mentioned above become targets, meaning a new upward wave after the correction remains a possibility.
The valuable aspect of this approach is that instead of trying to predict the future on the chart, it allows for planning in advance which scenario will come into play at which level. This ensures preparedness regardless of the market direction, creating a conditional plan instead of a one-way bet.
It may also be useful to consider this chart in conjunction with the current macroeconomic background, as Bitcoin is currently being influenced by external factors such as the uncertainty surrounding Iranian oil prices and the anticipation of the US CPI data on July 14th. Such macroeconomic catalysts can directly affect how quickly and in what direction technical levels like 64,700 or 61,291 are tested.
For those following these two scenarios via Gate, the key practical point is to monitor the volume above 64,700 and the time spent at that level, because whether or not this level is sustained will be the most concrete indicator that will largely determine which scenario will prevail.
This content is for informational purposes only and does not constitute financial advice.
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