$Bitcoin (BTC.CC)$broke above $64,000 on Friday after Iran requested a continuation of nuclear talks, yet another catalyst will determine Bitcoin's direction for the rest of July.
Why $64,000 Is The Only Level That Matters Right Now
Milk Road analystJohn Gillenlaid out two clean scenarios: if Bitcoin holds $64,000 on any retest, he sees a push toward $70,000 to $71,000.
Meanwhile, if it loses $64,000, he expects a sweep down to $58,000 first, with the channel's lower bound near $57,000.
Bitcoin has been stuck in a descending channel since June, and $64,000 sits right at the key resistance level within that structure.
