SoSoValue

Bitcoin ETF

Bitcoin

Spot

<h2 id="strong-key-takeaways-strong"><strong>Key Takeaways</strong></h2>
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 <ul>
  <li><strong>Bitcoin has broken above daily resistance near $64,000 while maintaining its higher-low structure.</strong></li>
  <li><strong>The next Fibonacci resistance sits around $67,000, followed by a larger test near $70,000.</strong></li>
  <li><strong>Spot Bitcoin ETFs recorded a second positive week after eight consecutive weeks of outflows.</strong></li>
  <li><strong><strong>The monthly recovery remains conditional on reclaiming a long-term ascending trendline.</strong></strong></li>
 </ul>
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<p>BTC trades at approximately <strong>$65,400</strong>&nbsp;at the time of writing on July 20, with the recovery from its late-June low continuing to produce higher lows.</p>
<p>The daily setup is constructive, but the monthly chart shows that Bitcoin is still trying to repair damage to its longer-term structure. The difference between those two time frames makes the next price reaction particularly important.</p>
<h2 id="daily-breakout-opens-the-route-toward-67-000">Daily Breakout Opens the Route Toward $67,000</h2>
<p>The daily chart shows Bitcoin moving above the horizontal resistance around <strong>$64,000</strong>. Price is also holding above the 50-day simple moving average near <strong>$63,189</strong> and continues to respect the ascending trendline extending from the late-June bottom.</p>
<figure style="width: 100%" class="wp-caption aligncenter"><img src="https://coindoo.com/wp-content/uploads/2026/07/bitcoin-daily-chart-20july2026-e1784567664626.jpeg" alt="A daily technical TradingView chart for Bitcoin/USD on Coinbase, dated July 20, 2026, displaying candlestick price action, moving averages, trendlines, and RSI indicators." width="1200" height="820">
 <figcaption>
  Daily Bitcoin technical price chart with indicators.
 </figcaption>
</figure>
<p>Together, these levels form the immediate support zone for the breakout. Holding above them would preserve the sequence of higher lows and leave the Fibonacci resistance near <strong>$67,000</strong> as the next major test.</p>
<p>A move above $67,000 would strengthen the recovery, but the level may also attract selling because it marks the boundary between the current consolidation area and the next section of the broader range.</p>
<p>The first warning could be a daily return below the reclaimed $64,000 level. A subsequent break beneath the ascending trendline would turn the move into a possible false breakout and redirect attention toward the horizontal support.</p>
<h2 id="the-monthly-chart-has-not-fully-recovered">The Monthly Chart Has Not Fully Recovered</h2>
<p><a href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BITSTAMP" rel="noopener noreferrer nofollow">Bitcoin’s monthly chart</a> presents a more demanding test. Price previously fell below the long-term ascending trendline that had guided the broader advance, turning the former support into resistance.</p>
<figure style="width: 100%" class="wp-caption aligncenter"><img src="https://coindoo.com/wp-content/uploads/2026/07/bitcoin-monthly-cahrt-july2026-e1784567647641.jpeg" alt="A monthly technical TradingView chart for Bitcoin/USD on Bitstamp, dated July 20, 2026, showcasing long-term candlestick price action alongside moving averages and key technical levels." width="1200" height="826">
 <figcaption>
  Monthly Bitcoin technical price chart.
 </figcaption>
</figure>
<p>The latest rebound is now attempting to reclaim that line. It began after Bitcoin tested the area where the <strong>0.618 Fibonacci retracement</strong> meets the 50-month simple moving average, currently near <strong>$59,930</strong>. That confluence provided bulls with a technically important area to defend.</p>
<p>A monthly close back above the ascending trendline would improve the longer-term structure and bring the <strong>0.5 Fibonacci retracement near $70,000</strong> into focus. Rejection from the trendline would leave Bitcoin vulnerable to another test of the $59,000 to $60,000 support region.</p>
<p>The daily breakout therefore supports a near-term bullish interpretation, but the monthly reclaim remains unconfirmed. Holding above resistance for several daily sessions is not the same as recovering the broader channel on a monthly closing basis.</p>
<h2 id="etf-inflows-return-after-eight-red-weeks">ETF Inflows Return After Eight Red Weeks</h2>
<p>Spot Bitcoin <a rel="noopener noreferrer nofollow">ETF</a> flows have also improved. The funds attracted <strong>$197.40 million</strong> during the week ending July 10, followed by another <strong>$75.67 million</strong> in the week ending July 17, <a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow">SoSoValue data shows.</a></p>
<p>That produced two consecutive positive weeks and combined net inflows of approximately <strong>$273.07 million</strong> after eight straight weeks of outflows. The reversal removes some of the persistent fund-related selling pressure that accompanied Bitcoin’s earlier decline.</p>
<p>However, the second weekly inflow was smaller than the first. The data shows that demand has returned, but not yet that it is accelerating. Continued positive flows would provide stronger support for a move through $67,000 and toward the monthly resistance near $70,000.</p>
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<p>The bullish confirmation could be backed by a successful retest of the $64,000 breakout area, followed by a sustained move above $67,000. The stronger long-term signal would come from a monthly close that reclaims the lost ascending trendline.</p>
<p>The broader setup also entered a macro-heavy period shaped by <a href="https://coindoo.com/crypto-investors-tesla-alphabet-rate/" rel="noopener noreferrer nofollow">three groups of catalysts in the following days</a>: technology-sector earnings, central-bank and economic decisions and US-Iran developments, which could influence oil prices and wider risk appetite.</p>
<p>For now, buyers hold the advantage on the daily chart. The monthly structure remains at an inflection point, making $67,000 the first test and $70,000 the level that could determine whether the recovery develops into a larger reversal.</p>
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 <p style="text-align: center;"><strong><em>This article is provided for informational purposes only and does not constitute financial or investment advice.</em></strong></p>
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<p>The post <a href="https://coindoo.com/bitcoin-reclaims-next-important-level/" rel="noopener noreferrer nofollow">Bitcoin Reclaims $65,000 – What’s the Next Important Level?</a> appeared first on <a href="https://coindoo.com" rel="noopener noreferrer nofollow">Coindoo</a>.</p>

Bitcoin Reclaims $65,000 – What’s the Next Important Level?

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