Bitcoin prices fluctuated close to $65,000 on Wednesday, July 22, as analysts pointed out key technical levels that traders should monitor.
The world’s largest digital currency by total market value fell to as little as $65,484.00, according to Coinbase data from TradingView.
At this point, the cryptocurrency had fallen close to 50% from the all-time high of more than $125,000 it reached in October 2025, a price reported by Reuters.
As the digital asset traded near the $65,000 level, several analysts highlighted key technical levels that short-term traders should watch.
Maxime Seiler, cofounder and CEO of STS Digital, offered some input on this matter, stating via email that “$70.000 to $72,000 is the upside zone to watch into month end, which lines up with where the bullish structures are set, and $67,000 to $68,000 is the immediate resistance that has to give first.”
“On the downside, $60,000 is still the level the market cares about,” he added, shedding some light on where bitcoin has support in this market.
Seiler also highlighted some macro developments, clarifying that “The main catalyst is the Fed meeting on July 28 and 29, which the market is treating as the thing that resolves the range one way or the other.”
“In addition, it’s worth watching alongside whether the ETF inflow streak holds,” he stated, referring to the flows into bitcoin exchange-traded funds.
Julio Moreno, head of research for CryptoQuant, supplied a similar take on the matter.
“From a traders’ perspective, I would watch the $64K price level as a support (dotted light blue line) and $72K as resistance (purple line) in the short term,” he said via email, referring to lines in a chart provided below.
“These levels are the lower band and traders’ on-chain realized price, and have been reliable support and resistance levels during this bear market,” noted Moreno.
Trader on-chain realized price bands
CryptoQuant
Tim Enneking, managing partner of Psalion, also chimed in.
“After months of indecision, it appears that $60k is finally a rather firm bottom for $BTC,” he said through emailed commentary.
“Since initially falling back to $60k in early February of this year (after breaking that level on the way up almost two years ago), $BTC has spent a full six months bouncing between $57k and $83k.”
“It’s spent the last almost two months between $57k and $67k, with $BTC today trying to push through the $67k ‘high’ set on June 15. Breaking that level is critical to continue putting in the higher lows and highs which began about one month ago.”
“My one fear is that this kind of looks like fall 2022, when $BTC also took its time putting in a bottom, and then completed one more leg down before moving up significantly beginning the following January.”
