Bitcoin price broke above the $64,750 level on July 20 after two days of consolidation, reaching a two-week high near $65,500, according to multiple analyst reports. The move was accompanied by significant volume expansion and a break of a 1-hour Bearish Order Block, confirming a bullish structure change.
Some sources reported even higher figures: $227 million or $226.8 million in net inflows on the same day, creating a discrepancy. Over the past five days, combined ETF inflows exceeded $600 million (claim:4), following a prior $2.7 billion in outflows (claim:84).
The breakout pushed Bitcoin above a 1-hour imbalance at $65,200–$65,280 and cleared resistance triggers. The price formed consecutive higher highs and higher lows, with the 20 EMA crossing above the 50 SMA. The 1-hour RSI is around 55, while the 15-minute RSI is near 48, suggesting room for further upside.
After the impulsive move, Bitcoin retraced into a 15-minute Fair Value Gap and formed a new 1-hour Bullish Order Block. Support is identified in the $64,500–$65,000 zone, with various entry points reported between $64,680 and $65,150. The $64,800 level is seen as a key invalidation point if the 1-hour close falls below it.
Upside targets vary widely. Near-term targets range from $66,200 to $66,800, with analysts eyeing $67,095, $67,250, and $67,500. Intermediate targets include $68,000, $68,415, and the $69,000–$70,000 zone. Longer-term projections reach as high as $71,000, $73,850, and $82,800. The recent swing high near $65,600–$65,800 is considered key resistance.
Bitcoin bounced 13% to 15% from its July low near $57,694, recovering from around $62,500. The price holds above $65,800 (claim:57), with spot ETFs recording a sixth consecutive day of inflows (claim:57). Strategy (formerly MicroStrategy) holds $3.2 billion in cash reserves and has not altered its bitcoin holdings. The broader context includes ongoing regulatory developments: the EU's MiCA regulation is accelerating crypto ecosystem transformation, and the US Congress is working on the CLARITY Act. Binance does not have full MiCA authorization.