Bitcoin tests major resistance at $65,600 as SuperTrend signal turns bullish

SuperTrend indicator offers new buy signal

On the four-hour chart, the SuperTrend indicator produced a buy signal as Bitcoin traded at $64,656. Ali Charts, a well-followed crypto analyst, noted that a similar signal last appeared on July 3, preceding a 16% jump in BTC’s price from $57,700 to $68,900. This new signal comes after Bitcoin rebounded from the low-$62,000 region, hinting at renewed buying interest.

The SuperTrend line now serves as dynamic support under the market. For the bullish outlook to remain valid, Bitcoin must keep its price above the $63,000 area. Continued strength could allow BTC to move toward $67,000, and a decisive breakout above $69,000 would confirm clear upside momentum and a broader recovery from recent declines.

Technical analysts highlight that BTC must break $67,000 and $69,000 to confirm a sustained bullish trend, while holding above new support at $63,000 remains crucial in the near-term setup.

However, analysts caution that past performance does not guarantee similar results this time. If BTC closes below the support level, sellers may regain control, putting $61,000 and $59,000 as the next targets.

Liquidity clusters define key market levels

Bitcoin is currently trading around $64,714, just under resistance spanning from $65,200 to $65,600. Crypto market analyst Kaz, known for his technical breakdowns, identified this region as a heavy liquidity zone sitting above broad support clusters. According to Kaz, price action in this area will likely determine whether Bitcoin can extend its rebound or faces renewed selling pressure.

If Bitcoin fails to clear $65,000 and loses its short-term support, a bearish reversal toward $61,300 could become the dominant scenario. The market shows concentrated liquidity between $60,800 and $62,200, amplifying the risk of accelerated declines if forced liquidations occur.

Mini dictionary: SuperTrend indicator, a technical analysis tool that uses volatility and trend direction to provide buy or sell signals and identify dynamic support and resistance areas on price charts.

The latest liquidity map shows dense clusters both above and below current price, with $65,200–$65,600 marking heavy resistance that could trigger sharp buying if broken, while losing support exposes BTC to rapid drawdown toward $61,300.

A clear invalidation point for the bearish case sits above $65,600. If Bitcoin sustains above this resistance, analysts expect buying pressure to increase as price moves into higher liquidity bands. Liquidations of short positions in these areas could drive BTC into the $67,000–$68,000 range, which holds additional price imbalances being monitored by technical traders.

Market observers stress the need for confirmation before calling a completed breakout. An intraday move above $65,000 is not sufficient; the price must hold above $65,600 to strengthen the outlook. Conversely, a quick move above resistance followed by a reversal would point to a false breakout and increase downside risks.

Market remains at a crossroads

Bitcoin continues to trade between key liquidity clusters, leaving both bullish and bearish scenarios open in the days ahead. A confirmed move above $65,600 could expose higher targets near $67,000 and $68,000. However, rejection at current levels could quickly shift attention back toward support zones at $61,300, especially if selling accelerates amid forced liquidations.