Bitcoin is trading around $65,000 this Wednesday, holding above the $60,000 demand zone after a bounce, but still below both its 100-day moving average near $69,000 and the 200-day moving average around $72,000. The price is testing a supply zone at $67,000, and traders are watching whether BTC can break through or face another pullback.
Resistance at $67,000 and the path higher
The first major resistance sits at $67,000, where price is currently testing a supply zone. A breakout above that level could expose the next resistance cluster around $72,000 to $74,000. The primary bullish hurdle for a larger trend reversal remains the $82,000 supply zone. On the 4-hour chart, Bitcoin broke below the lower trendline of an ascending structure and is now retesting it, shifting near-term momentum in favor of sellers. The cryptocurrency is consolidating inside the $65,000 to $66,000 resistance zone on that timeframe. A decisive close above $66,000 could trigger a leg higher toward $67,000 and then higher daily resistance levels.
Support levels to watch on the downside
If Bitcoin fails to overcome the $65,000–$66,000 supply zone, a pullback toward $63,500 support is likely. Losing that level increases the probability of a deeper retracement to $60,000. Below $60,000, the next demand region is $54,000 to $56,000. The RSI has recovered from oversold territory and is climbing back toward the midline but has not entered strong bullish territory, leaving the door open for either direction.
aSOPR data shows easing selling pressure
The 30-day exponential moving average of the Adjusted Spent Output Profit Ratio (aSOPR) has remained below 1.0 for several months, indicating subdued profitability and reduced selling pressure. The metric is now recovering and moving back toward the equilibrium line, suggesting profit-taking pressure is easing. If aSOPR reclaims and sustains above 1, it would indicate realized profitability without aggressive distribution, which historically supports healthier recoveries. However, another decline below the neutral threshold would imply market hesitation, increasing the risk of a relief rally rather than a broader bullish trend.
For now, Bitcoin remains in a technical tug-of-war between the $60,000 support and the $67,000 resistance. The next few days will be critical: a close above $66,000 on the 4-hour chart could set up a test of the 100-day moving average near $69,000, while a failure to hold $63,500 would put the $60,000 demand zone back in play.
