The post Bitcoin (BTC) Price Prediction: BTC Nears Major Supply Zone as Bulls Target a Break Above $65K appeared on BitcoinEthereumNews.com.
The latest Bitcoin price action shows BTC holding above several short- and medium-term moving averages, while repeated attempts to establish a sustained move above $65,000 have so far met resistance. At the time of the latest technical snapshot, Bitcoin was trading around $65,118, up roughly 0.32% on the day. The move has kept BTC above a dense support area identified through on-chain cost-basis data, but the cryptocurrency remains below several longer-term moving averages that could limit the upside. The immediate Bitcoin price prediction therefore centers on whether buyers can convert $65,000 from resistance into support. A confirmed break could put the $67,000-$67,600 area into focus, while another rejection could expose the $64,000 region and potentially the broader $61,849-$64,374 support zone. Can Bulls Finally Hold 65K? Bitcoin has made several attempts to push through $65,000, but buyers have yet to demonstrate a decisive breakout and sustained hold above the level. A TradingView analysis noted that BTC has continued to press against $65,000 from below after recovering from lower levels. The analyst also highlighted an important change in the behavior of the 100- and 200-period exponential moving averages on the one-hour and four-hour charts. Bitcoin continues to test $65K from below but has yet to establish a sustained breakout above the key resistance level. Source: inchartswetrust on TradingView “The cluster of EMA 100 and 200 on the 1H and 4H initially acted as resistance during the move up from 62,500. However, now that price has confidently moved above them, they have started to act as solid support.” That distinction is relevant to the current BTC price structure. Bitcoin has remained above these moving-average clusters rather than immediately retracing toward them after testing $65,000. This indicates that buyers have maintained some short-term control, although it does not by itself confirm a broader trend…