Bitcoin is trading around $65,101 this Tuesday, but a TradingView analyst has flagged a bearish continuation setup that could send prices lower. The setup hinges on resistance at $64,500–$64,700 — a level that must be broken to weaken the bear case.
The $64,500–$64,700 resistance wall
The analyst points to a dynamic resistance structure that has kept sellers firmly in control. As long as Bitcoin stays below this zone, the bearish argument holds. Tuesday's daily range stretched from a low of $63,226 to a high of $65,123, meaning the resistance cluster sits near the top of recent action — a level that has already repelled price once today.
Downside targets: $62,200 and beyond
If the pattern plays out, Bitcoin could first slip to $62,200, then $61,000. The main target zone is $60,700–$61,000. That's a roughly 6% drop from current levels — a move that would test support areas not seen in recent weeks. The analyst argues sellers remain in charge while price trades below the dynamic resistance.
The flip side: what invalidates the setup
The bearish setup is invalidated if Bitcoin pushes above $64,700. Should the price instead hold above $64,500–$64,700, that resistance could flip into support, seriously weakening the bear case. The analyst noted that reclaiming that level would change the narrative. For now, sellers are dictating the action.
Traders are watching the $64,500–$64,700 zone closely. A break above shifts the story; failure to reclaim it keeps the downside targets in play.
