Bitcoin · Wall Street · Federal Reserve (FED) · Decrypt
Bitcoin Breaks Heavy Resistance—But Death Cross Looms: Analysis
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Wall Street had a solid Tuesday, but Bitcoin and the rest of the crypto market finds itself on less steady ground.
Key facts
- If BTC holds $64K for a few sessions and confirms the breakout, the next targets open up around $66,500–$67,600, with $70K plausible if momentum builds
- The Fibonacci analysis of natural support and resistance zones in a trend, places BTC right at the 100% level of a bearish leg that ran from $64,657 down to $61,246—exactly where sellers tend
- Prediction market traders have placed odds at 66.6% that Bitcoin dumps to $55K, against 33.4% on a pump to $84K
- Bitcoin cleared the $64K resistance mark on Tuesday, tagging a daily high of $65,511 before settling at $64,858—flat on the day, down 0.18% on the forming candlestick
Summary
Bitcoin broke above $64K resistance Tuesday and is trading flat at $64,858 today—0.18% down, barely breathing. A death cross on the charts keeps the macro trend bearish, with BTC sitting roughly 5% above the channel that would drag it back into a confirmed downtrend. On Myriad, traders are pricing in 66.6% odds that Bitcoin dumps to $55K before it sees $84K again. The S&P 500 gained 0.39% and the Nasdaq climbed 0.67% on Tuesday, boosted by a June PPI report that came in below expectations—producer prices fell 0.3% on the month, mostly driven by a collapse in gasoline prices.