Bitcoin price targets $68K as bulls test $65K

Bitcoin price approached $65,000 on Aug. 6 as easing concerns over the Strait of Hormuz and improving technical momentum supported its recovery from the low-$62,000 region. Summary Bitcoin price rallied nearly 4% from its Aug. 3 low before meeting resistance around $65,000. The 4-hour chart places the upper Bollinger Band at $65,221, reinforcing near-term resistance. Liquidation clusters sit near $65,000–$65,500, with downside liquidity concentrated around $63,000. A confirmed breakout could expose $67,365 and $68,000, while losing $63,700 would weaken the setup. Bitcoin price action today According to data from crypto.news, Bitcoin (BTC) traded around $64,615 at the time of writing after reaching an intraday high of $64,999. The move extended its recovery from approximately $62,300 on Aug. 3 to almost 4%. The rebound followed reports of progress between Iran and Oman over a shipping route through the Strait of Hormuz. Iran’s Foreign Ministry said the two countries had reached an understanding on the route’s coordinates, although several details were still under discussion. The development has not guaranteed a permanent reopening of the waterway. Brent crude remained below $80 as t...