According to famous analyst Daan Crypto Trades (with nearly 400,000 followers on X), BTC price needs to overcome the strong resistance level at $65,000 to enter a new growth cycle.
He commented that $65,000 is the "key level", when attracting a large amount of liquidity in this area. This is also the price range where BTC traded before the "horrifying" flash dump on August 5 and BTC has not been able to return to $65,000 for nearly 2 months.
Daan Crypto Trades believes that the $65,000 area is the last "line of defense" for the sellers. If BTC continues to close this week's candle above $64,000, this will be a positive signal in terms of market structure after a long period of decline since mid-March.
