Bitcoin price prediction: Why $61k and $67k are BTC's key levels to watch - AMBCrypto
Bitcoin [BTC] managed to push higher to$66,956on Tuesday,July 21. The bulls were met with rejection back then, but the pullback only reached the$63. 9karea before climbing back toward$65k. Since October, the. . .
Bitcoin [BTC] managed to push higher to$66,956on Tuesday,July 21. The bulls were met with rejection back then, but the pullback only reached the$63. 9karea before climbing back toward$65k. Since October, the foremost crypto has been in a bearish swing structure on the1-day timeframe. This situation has not changed yet. BearishETF flowsat the end of the previous week signaled a potential sentiment shift. The funding rates remained positive, and thelong volumein the derivatives market slightly outnumbered the short positions. Selling pressure from miners was down, and it was trading within a rising channel,AMBCrypto reported. Whale accumulation from centralized exchanges also pointed toward a bullish long-term outlook for investors. Bitcoin price prediction direction remains bearish in the long-termNot much has changed since the previous week of trading. The$67,292swing high was not yetbreached. Nor was the price headed toward, and below the$57,800swing low. Source: CryptoQuantWell-known analyst Joao Wedson used the Bitcoin Binance reserve realized price to draw attention to an important support level. The metric measures the average cost basis of Binance’s reserves. In 2022, this support was lost, later acting as resistance until it was reclaimed in 2024. So far in 2026, the tests of this support at$61khave been defended by the buyers. Traders’ call to action- Stay cautiousSource: CoinGlassOver the past two weeks, a considerable amount of long and short liquidations have built up at$63. 5k and $67. 1k, respectively. These are the nearby key magnetic zones swing traders need to keep an eye on. If the longer-term downtrend is to continue, it would be more likely that Bitcoin climbs to take down the overhead liquidation levels before plunging southward. The next directional move may depend on a macro catalyst. The Federal Reserve’s rate decision will be announced onWednesday, July 29. The Personal Consumption Expenditure [PCE] data would also be revealed just a day later. We are heading into a critical 48-hour window, crypto analyst Ibrahim Cosart wrote. Managing risk will matter more than making directional bets, the analyst concluded. Source: BTC/USDT on TradingViewOnce the dust settles, if BTC has breached$67. 2k, a rally toward$73k-$77kwould become likely. On the flip side, a breakdown below$63. 7kwould likely see BTC slump toward the$61k and $57. 8kdemand zones. Final SummaryBitcoin has been flowing out of exchanges since June, and whale accumulation has been underway recently. Bitcoin’s next directional move may hinge on whether buyers continue to defend $61k while attempting to reclaim resistance near $67k.