Bitcoin’s $65,500 level hits resistance and falls back—can $63,000 be the watershed between bulls and bears?

According to market news, since this week Bitcoin hit key resistance at the $65,500 level and saw a clear pullback. Analysts believe this is not a coincidence, but a resistance pattern that repeatedly appears during bearish market cycles.

Crypto Rover noted that in this bearish cycle, every time Bitcoin rebounds to the price that short-term holders can realize (i.e., the recent buyers’ average cost baseline), most investors tend to sell and exit once their positions return to break-even.

This pattern has repeated since last November, when Bitcoin experienced similar situations at levels such as $115,000, $95,000, and $83,000.

But analysts also differ on this—trader Merlijn predicted Bitcoin could fall to the $58,500–$60,000 range and emphasized that $63,000 may be the watershed for the market’s direction. If it breaks, the price may fall again below $60,000.

In contrast, Jelle believes Bitcoin returning to the lows of the prior range is a “good start for the bulls,” but reminded that summer market moves are usually slow. He advised investors to stay cautious and use a low-level DCA strategy while waiting for the market to officially confirm a bullish reversal.

Do you think Bitcoin can hold the $63,000 key support? Next, will it break below $60,000 or see a rebound? Leave your thoughts in the comments!

#比特币 #Market trend