Bitcoin

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<a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-blasts-past-63000-top-3-reasons/" target="_blank" rel="noopener ">Bitcoin (BTC)</a> is on the brink of a significant price movement as it approaches the crucial resistance level of $64,515. The cryptocurrency asset has been experiencing an upward trend, gaining momentum and investor confidence.&nbsp; 
Breaking through this key resistance could act as a catalyst for a major rally, potentially pushing BTC to new heights. Traders and market analysts are closely monitoring this level, as a successful breach could signal a strong bullish phase and attract increased trading activity, further driving up the price. 
This article aims to provide an in-depth analysis of Bitcoin’s current price movement as it nears the significant resistance level of $64,515. It seeks to explore the potential market implications of breaking through this key threshold, including the likelihood of igniting a substantial rally.&nbsp; 
Furthermore, it examines technical indicators, market sentiment, and historical data to offer readers a comprehensive understanding of what this resistance level means for Bitcoin’s long and short-term price trajectory. 
With a market capitalization of more than $1.2 trillion and a trading volume of more than $21 billion as of the time of writing, the price of Bitcoin is currently down by 3.26%, trading at around $63,300 in the last 24 hours. BTC market cap and trading volume are currently up by 3.03% and 77.17% respectively. 
<h2 id="strong-current-market-overview-of-bitcoin-upward-trend-strong">Current Market Overview Of Bitcoin Upward Trend</h2> 
Currently, on the 4-hour chart, the price of BTC is on a <a href="https://www.newsbtc.com/news/bitcoin-remains-bullish-as-new-btc-addresses-surge-to-new-2-month-highs/" target="_blank" rel="noopener ">bullish</a> rise and attempting a cross above the 100-day Simple Moving Average (SMA) with strong bullish momentum. Also, it can be noticed that the crypto asset has broken above the 4-hour bearish trend line. 
<img loading="lazy" decoding="async" class="wp-image-627175 size-large" src="https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM-1.jpeg?w=860&amp;resize=860%2C500" alt="Bitcoin" width="860" height="500" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM-1.jpeg?w=1438 1438w, https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM-1.jpeg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM-1.jpeg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM-1.jpeg?w=860&amp;resize=860%2C500 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM-1.jpeg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM-1.jpeg?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
The formation of the 4-hour Composite Trend Oscillator also signals bullishness for Bitcoin as both the signal line and the SMA of the indicator are attempting to cross above the zero line. 
On the 1-day chart, the price of Bitcoin is experiencing a strong momentum rise toward the $64,515 resistance and the 1-day SMA. Specifically, this price increase started two days ago after a rejection at the $60,152 support level. 
<img loading="lazy" decoding="async" class="size-large wp-image-627176" src="https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM.jpeg?w=860&amp;resize=860%2C500" alt="Bitcoin" width="860" height="500" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM.jpeg?w=1438 1438w, https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM.jpeg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM.jpeg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM.jpeg?w=860&amp;resize=860%2C500 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM.jpeg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-01-at-9.19.20-AM.jpeg?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
Finally, it can observed that the signal line of the 1-day Composite Trend Oscillator is attempting to cross above the SMA. This formation thereby indicates more bullishness for Bitcoin’s price. 
<h2 id="strong-breaking-through-or-facing-rejection-strong">Breaking Through Or Facing Rejection</h2> 
Exploring possible market scenarios if Bitcoin breaks through or is rejected at $64,515 reveals that if the price of Bitcoin breaks above the $64,515 resistance level, it may continue to move upward toward the $66,736 resistance level. Should this level be breached, the crypto asset may experience more price growth toward the $71,909 resistance level and possibly other levels above. 
Conversely, should <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-spikes-63500/" target="_blank" rel="noopener ">Bitcoin’s price</a> undergo a rejection at the $64,515 level and begin to drop again, it will continue its downward movement toward the $60,152 support level. Following a break below this level, BTC may experience a further price drop to test the $56,523 support level and probably other levels below. 
<img loading="lazy" decoding="async" class="size-large" src="https://www.tradingview.com/x/yIhsCHCP/" alt="Bitcoin" width="2283" height="1265">

Bitcoin Nears $64,515 Resistance: Will A Breakthrough Ignite A Bullish Run?

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