Bitcoin price approaches crucial moment after resistance breakout

The Bitcoin price stands at $64K on Monday morning, a drop of 1.1% over the past 24 hours. Yet something interesting is happening: a resistance level that repeatedly held back the price has finally been broken. Analyst @eliz883 shares her analysis on X and explains why patience is now key.

Bitcoin is available at OKX and Bybit.

Resistance Level Broken After Multiple Rejections

For several days, the analyst had pointed to a specific resistance level as the one to watch. That level rejected the price time and again, but Bitcoin has finally broken through. According to the analyst, this is a moment where patience is rewarded, especially for traders who do not let emotions get the better of them.

The chart shows that the price previously bounced off the area around $65.400, a zone that acted as a ceiling on multiple occasions. The breakout could trigger a short squeeze to the upside, towards levels above $70.000. At the same time, the analyst also considers a scenario where the price retreats to the zone around $59.900 to $60.500.

Monday Calls for Patience and Confirmation

A second key point from the analysis: Mondays are generally not an ideal trading day. Volumes are low, and forced trades rarely yield results. The analyst advises against jumping in on the initial move and instead recommends waiting for confirmation.

Because that is exactly what matters now: how does the market react after the breakout? A strong confirmation of the move is, in her view, far more valuable than riding the first momentum. The current price of $64.000 sits just above a support level around $64.020, which forms an interesting zone to watch in the coming hours. Whether Bitcoin will actually head towards higher levels depends on how the market responds for the rest of the week.