Bitcoin is testing the $64,360 resistance level after multiple failed breakout attempts, according to analyst Ali Charts. The cryptocurrency has registered its first four-hour bullish trend flip since trading above $80,000, with analyst Skew reporting a shift from bearish to bullish conditions on the BTC perpetual futures chart. The repeated rejections at $64,360 have reinforced this level as a key short-term barrier, with each failed breakout pushing price lower. The recent bullish signal follows a sharp sell-off into early June, after which price began stabilizing. Bitcoin's technical indicators show improving short-term momentum, though the asset still trades below several higher-timeframe resistance levels.
Bitcoin Tests $64,360 Resistance After Multiple Rejection Attempts
Bitcoin continues testing the $64,360 region on the four-hour chart, a level that has acted as a ceiling multiple times during recent price action, according to analyst Ali Charts. The chart highlights several failed breakout attempts near $64,327-$64,360, marked by repeated reversals after price briefly approached the resistance zone. Each rejection has pushed Bitcoin lower, reinforcing the area's importance as a short-term barrier.
According to the analysis, a decisive close above this level could invalidate the repeated rejection pattern and open the door for a move toward the next resistance zones around $65,600 and potentially $67,200. The chart shows multiple instances where buyers failed to absorb the supply concentrated near $64,360, resulting in price pullbacks from the resistance level.
BTC Registers First Four-Hour Bullish Trend Flip Since $80,000
Bitcoin has registered its first four-hour trend reversal signal since the market traded above $80,000, according to analyst Skew. The BTC perpetual futures 4-hour chart has shifted from bearish to bullish conditions, with the trend indicator turning positive and the chart adopting early uptrend coloring.
The chart illustrates Bitcoin's prolonged decline from the $80,000 region, followed by a sharp sell-off into early June before price began stabilizing. The latest move higher has pushed BTC above the short-term trend ribbon, marking the first bullish flip on the four-hour timeframe since the broader downtrend began. According to the analysis, the change in trend coloring suggests that buyers are regaining control of short-term momentum.
Bitcoin still trades below several higher-timeframe resistance levels. The signal represents an early indication rather than confirmation of a full trend reversal.
FAQ
What resistance level is Bitcoin currently testing?
Bitcoin is testing the $64,360 resistance level, which has rejected multiple breakout attempts on the four-hour chart according to analyst Ali Charts. Each failed attempt near $64,327-$64,360 has resulted in price reversals, reinforcing this area as a key short-term barrier.
What is the significance of Bitcoin's recent trend flip?
Bitcoin has registered its first four-hour bullish trend flip since trading above $80,000, according to analyst Skew. The BTC perpetual futures chart shifted from bearish to bullish conditions, with the trend indicator turning positive after a prolonged decline and a sharp sell-off into early June.
What are the next resistance levels for Bitcoin above $64,360?
According to analyst Ali Charts, the next resistance zones are located around $65,600 and potentially $67,200. A decisive close above the current $64,360 resistance could open the door for a move toward these higher levels.
