Bitcoin's Rebound Falters at Resistance: Corrective Move or Bull Trap?

Bitcoin's rebound from its late-June low remains a corrective move rather than the start of a confirmed bullish trend, according to More Crypto Online. The price has recovered towards $64,750, but the wider structure still lacks the strength needed to overturn the previous decline.

The chart labels this recovery as an ABC correction, with the first advance forming wave A and the following pullback forming wave B. Bitcoin may still complete wave C higher, but that move would remain part of the correction unless price breaks major resistance and changes the larger structure.

The first barrier sits around $66,000, where earlier rebounds lost momentum. Above that, the chart highlights resistance near $69,000 and $72,000, while a descending trendline adds pressure around the same area.