Ali Charts Sees $68k Target for Bitcoin After $64,700 Break

Cryptocurrency analyst Ali Charts has identified a crucial level for Bitcoin's next major move. According to him, the current key level to watch is $64,700.

This level represents a turning point for Bitcoin's price action, and if it fails to break above it, it may trigger a deeper pullback.

If sellers defend this level, Bitcoin could retreat to the middle channel support at $63,000 and potentially test the channel's bottom around $61,500.

However, Ali Charts mentioned that if Bitcoin manages to close above $64,700 on an hourly basis, it would invalidate the bearish scenario.

A breakthrough of this resistance level could potentially drive Bitcoin higher, with a target at $68,000 if it reaches $66,400 first.