Bitfinex Blog/
Chart Decoder Series: Donchian Channels: How Traders Spot Breakouts
Bitcoin has rebounded from late June lows to trade below a $64,500-$65,000 resistance zone, with ETF inflows returning. Technical analysis using Donchian Channels indicates the market is currently consolidating, with a daily close above approximately $65,600 required to confirm a new uptrend.
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Why It Matters
The analysis identifies key technical levels ($64,500-$65,000 and $65,600) that will determine if Bitcoin's recent recovery transitions into a sustained bullish trend or remains range-bound.