Bitcoin has recovered from its late-June lows, but analysts remain divided on whether the latest rally marks the beginning of a sustained uptrend or simply a temporary rebound before another leg lower. While BTC has reclaimed the mid-$64,000 area, several technical analysts argue that the current advance still looks corrective, with significant resistance waiting overhead.
The coming days could prove decisive. A move above recent highs may trigger fresh buying interest, but if Bitcoin fails to hold those gains, the market could quickly shift its focus back toward the $60,000 support zone.
Bitcoin Could Sweep $65,600 Before Reversing Lower
One of the more closely watched technical scenarios suggests Bitcoin may briefly break above the equal highs around $65,600 before reversing.
According to chart analysis shared by trader Kaz, the area around $65,600 represents a cluster of unswept liquidity. A move through that level could trigger stop-loss orders and attract breakout buyers before larger sellers step in, creating what is commonly known as a liquidity sweep rather than the start of a sustained breakout.
If that scenario plays out, attention would shift back to several untouched liquidity levels near $61,807, $61,540, and $61,305. A deeper correction could then expose the broader $60,000 to $61,000 support zone.
The current rounded price structure also supports the possibility of a lower high forming. However, confirmation would require Bitcoin to reject higher prices and lose nearby support. A sustained move above $65,600 would significantly weaken the bearish setup.
Major Resistance Still Stands Between Bitcoin and a New Uptrend
A separate analysis from More Crypto Online also suggests the recent recovery remains corrective rather than impulsive.
Using Elliott Wave analysis, the current advance is labeled as an ABC correction following the previous decline. In this interpretation, Bitcoin may still complete another push higher, but that move would remain part of a broader corrective structure unless key resistance levels are broken.
The first major obstacle sits near $66,000, followed by stronger resistance around $69,000 and the psychologically important $72,000 level. A descending trendline intersects this area, adding another technical barrier for buyers.
If Bitcoin reaches the $69,000 to $72,000 region before losing momentum, the corrective rally could end there and open the door to another decline toward $61,000 or even the late-June lows near $58,000.
On the other hand, a convincing daily close above the descending trendline followed by sustained trading above $72,000 would invalidate much of the current bearish outlook and strengthen the case for a broader bullish reversal.
CoinCheckup Bitcoin Price Prediction
According to the latest CoinCheckup Bitcoin prediction, Bitcoin’s longer-term outlook remains constructive despite the possibility of short-term volatility.
The forecast suggests BTC could remain relatively range-bound through August before momentum accelerates in September. That month carries one of the strongest projections of the forecast period, with Bitcoin potentially climbing toward $87,164, followed by additional strength through October.
The model continues to project prices largely above the $74,000 level throughout late 2026, indicating that any near-term weakness may be viewed as part of a broader recovery rather than the beginning of a prolonged bear market. Forecasts remain optimistic into early 2027, with January and February both pointing to potential highs near $88,000.
After those projected peaks, the outlook becomes more mixed. CoinCodex expects Bitcoin to gradually lose momentum during the middle of 2027, although projected prices still remain comfortably above current trading levels for much of the forecast period.
