Bitcoin Consolidates: Is $64.5K Liquidity Grab Next or Retest?

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Bitcoin consolidated between 63k and 64K over the weekend, with 62.8k as short-term support. However, it’s still struggling to break into the liquidity zone above 64.5k.

As Monday began, the volume did not significantly increase. So, we’re waiting for the U.S. session to kick in for more action.

Overall, the technical indicators remain favorable. MACD is bullish, the VMA is still trending upwards, and while the RSI is high, it hasn’t yet entered overbought territory, keeping it neutral for now.

So, what’s next?
Well, two levels to watch will decide the next move.

If Bitcoin can push past 64.5k and grab that liquidity, we will likely see a move toward the upper trendline of the long-term channel (65k-66k).

On the other hand, a break below 62.8k could send us toward the lower boundary of the (short-term) ascending channel, around 61.5k, or even trigger a retest of the 60k level.

From my perspective, both scenarios are ok.

A 60k retest to flip it as support or continued upward movement toward the upper trendline would both set the stage for bigger moves. The real battle lines lie at the upper trendline or the 60k support zone. Stay cautious and watch for volume to confirm direction.