Bitcoin Price Analysis: Is BTC Ready for Another Leg Higher Next Week?

Bitcoin has staged a notable rebound after sweeping liquidity beneath the June lows, but the recovery is now approaching a critical resistance cluster. While momentum has improved in the short term, the broader structure remains bearish until BTC reclaims several major resistance levels overhead. Bitcoin Price Analysis: The Daily Chart The daily timeframe shows Bitcoin continuing to trade below its key moving averages, with both the 100-day and 200-day moving averages sloping lower and acting as dynamic resistance.

The market remains structurally bearish after losing the $72K-$74K support zone in June, which has now flipped into a major supply area. However, the recent price action is becoming more constructive. BTC successfully defended the $58K-$61K support region and produced a sharp bounce from the lower boundary of the broader descending structure.

More importantly, the daily RSI has formed a bullish divergence, with momentum making higher lows while the price registered comparable or lower lows around the June bottom. This divergence often appears during exhaustion phases and suggests selling pressure has been weakening despite the downtrend. The immediate challenge lies around $65K-$67K, where a major resistance zone intersects with the descending upper trendline.

A successful breakout above this area would likely trigger a larger recovery toward the former breakdown region near $72K-$74K. Conversely, rejection from the current resistance cluster would reinforce the prevailing bearish structure and increase the probability of another move toward the $60K support area. BTC/USDT 4-Hour Chart The 4-hour chart highlights a developing falling wedge structure.

Bitcoin recently rebounded from the lower boundary near $58K and has advanced steadily toward the upper trendline, which currently converges with the $63K-$64K area. The recovery has already reclaimed the $60K-$61K support zone, turning it back into a short-term demand area. Price is now testing the upper bou