Bitcoin tests $65,000 as bulls eye $68,000

Bitcoin set a new intraday high of $64,999, coming right up against the psychological and technical $65,000 level without yet closing above it. As analysts note, that's a roughly 4% recovery from the local low of $62,300 hit on August 3.

Analysts see the nearest resistance at $65,000–$65,220, followed by $66,000, with the next target on a breakout at $67,000–$68,000, which lines up with the daily Fibonacci resistance at $67,365. Support below comes from the Bollinger Band basis at $64,020, the 23.6% Fibonacci retracement at $63,715, and a liquidity cluster at $63,000–$63,200. Among the factors supporting the recovery: progress in talks between Iran and Oman over Strait of Hormuz shipping, Brent crude staying below $80, and easing inflation concerns — while the Awesome Oscillator technical indicator keeps building momentum.

“BTC is right at its $65,000 resistance zone. Reclaim this, and Bitcoin could rally towards $68,000 next.”

— Ted Pillows, Analyst

• Intraday high of $64,999, a 4% recovery from the $62,300 low
• Nearest resistance: $65,000–$65,220, with $67,000–$68,000 as the breakout target
• Support below: $64,020 (Bollinger), $63,715 (23.6% Fibonacci), $63,000–$63,200

Analyst Lennaert Snyder calls $65,000 the key test after a 4-hour close above $64,000. This plays out against a backdrop we've covered before: yesterday bitcoin was nearing this same level on oil and inflation hopes, and just this morning we covered a record gap between futures and spot volume on Binance — meaning this move toward $65,000 is being shaped heavily by leveraged positioning rather than direct spot buying.

Nothing here should be taken as financial advice — just information to consider.