TLDR
- Bitcoin remains above $64K, but bulls need a decisive 4H close above $65,200 to target the $66,800-$67K resistance.
- New whale cost bases near $67K create significant overhead supply, making this zone critical for Bitcoin’s next major move.
- MACD momentum is weakening as the 184.57 line falls below 223.06, with a -38.48 histogram signaling short-term caution.
- A break below $64K could expose $63K-$63.3K, while deeper support sits near miner cost bases around $51K.
Bitcoin price is approaching a decisive technical and on-chain crossroads as the latest recovery loses momentum near $65,000.
BTC’s resistance at $65,200 and $67,000 will determine whether bulls extend the rally or trigger another pullback. Cost-basis data also points to deeper support around $51,000 if selling pressure accelerates across the market.
Bitcoin Price Faces a Crucial $67K Cost-Basis Barrier
Bitcoin’s latest recovery has brought the market back into a critical supply zone. After falling toward $62,500-$63,000 in late July, BTC has gradually recovered. The 4-hour chart shows a sequence of higher lows, suggesting that buyers remain active.
However, the recovery has stalled around $65,000-$65,200. Several candles have rejected this area, indicating that sellers are defending the level. The broader trading range remains concentrated between approximately $63,000 and $67,000.
A decisive 4-hour close above $65,200 could strengthen the bullish setup. Such a move would put $66,000 in focus before Bitcoin tests the major swing high around $66,800-$67,000.
The $67,000 region carries additional significance because it aligns with the cost basis of newer whales. This makes it more than a conventional technical resistance level.
New whale holdings around this price represent a potentially significant source of overhead supply. If holders who accumulated near $67,000 use the recovery to exit at breakeven, Bitcoin could face renewed selling pressure.
That creates the possibility of a bull trap if BTC briefly breaks above the resistance before falling back below it. Meanwhile, the Binance user deposit cost basis near $61,500 has emerged as an important near-term support zone. Previous dips below this level have attracted buyers and produced relief rebounds.
Yet the latest buying activity appears less convincing. Subdued volume during the recovery suggests that buyers have not demonstrated enough conviction to support a sustained breakout.
MACD Warning Keeps Bitcoin Bulls on Alert
Technical momentum is providing another reason for caution. The MACD remains above the zero line, which indicates that the broader momentum structure has not completely turned bearish. However, the MACD line at 184.57 has fallen below the signal line at 223.06.
The histogram has also slipped slightly negative to -38.48. Together, these signals suggest that bullish momentum is fading. Bitcoin could therefore enter a period of consolidation or experience a short-term retracement before attempting another breakout.
Source: CryptoRank
The immediate technical level to watch is $64,000. As long as BTC maintains this area, the higher-low structure remains intact. A successful defense could allow bulls to challenge $65,200 again and eventually target $66,000-$67,000.
However, a sustained move below $64,000 would weaken the short-term structure. That could expose $63,000-$63,300, which currently represents the key technical support zone.
Beyond that, the on-chain cost-basis picture becomes increasingly important. Miner cost bases are clustered around $51,000, while long-term holders provide another major layer of support.
The gap between the LTH cost-basis supply and the current Bitcoin price is approximately $17,700, implying potential downside of around 26% from the current level if the market enters a much deeper correction.
The miner region around $51,000 could consequently become a formidable defensive line in a final-bottom scenario. For now, Bitcoin remains cautiously bullish-to-neutral.
The post Bitcoin’s Weak MACD Momentum Warns of a Possible Pullback Below $67K Resistance Zone appeared first on Blockonomi.
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