As the cryptocurrency market rebounds from last week’s downturn, Bitcoin (BTC) is working to regain a key price level. Despite the recovery, some analysts warn that the bottom may not yet be in, suggesting Bitcoin could soon test its recent lows again.
Bitcoin continued to trade sideways on Monday, attempting for the third straight day to establish a critical area as support. After falling to a two-month low of $60,000 last week, Bitcoin has rebounded by 17.5%, trading between $68,000 and $72,000 in recent days. However, it has failed to reclaim the upper part of its short-term range, leaving its next direction uncertain.
Analyst Crypto Bullet pointed out that Bitcoin posted a strong weekly close above the 200-week Exponential Moving Average (EMA), with last Thursday’s drop appearing as a long wick on the chart. He noted that such wicks have typically been filled in the following week, citing similar patterns in late February and early October 2025. Based on this, he suggested Bitcoin could retest the $60,000 area, where the 200-week Moving Average is also positioned.
Similarly, Ted Pillows highlighted Bitcoin’s bounce above $70,000 on Monday, emphasizing that the key level to hold is the $68,000 support, which aligns with the EMA200. If this level fails, he warned that a deeper correction could follow, potentially pushing Bitcoin below its recent lows.
Meanwhile, Ali Martinez suggested that Bitcoin’s bottom might not yet be in, noting that historically, Bitcoin has bottomed around the −1.0 MVRV Pricing Band. According to his chart, that level is currently near $52,040.
Another analyst focused on Bitcoin’s macro descending triangle pattern, which has been forming on the monthly chart since mid-2024. They suggested that any potential bounce could be a “lesser relief rally compared to the 2024-2025 advance to the upside.”
Rekt Capital observed that after breaking down from such macro triangles, Bitcoin tends to react from the 50-Month EMA but has historically dipped below this level afterward. He added that Bitcoin has consistently failed to return to the base of the macro triangle after breakdowns, meaning any relief rally might fall short of $82,500.
The analyst noted that if Bitcoin can establish support above $71,000—where the post-halving accumulation breakout occurred—it could attempt a move toward the mid-$70,000s. However, Bitcoin is still determining whether it will settle within its post-halving range and has not yet firmly reclaimed the upper part of its current range as support. Instead, early signs suggest it may be turning into resistance on the weekly chart.
As a result, Bitcoin could consolidate within its post-halving range again if the $70,000 level holds as resistance. With roughly 30% of this market cycle phase completed, there is still time for further price movement. However, historical patterns suggest any consolidation will likely be distributive before any additional downward pressure.
Frequently Asked Questions
FAQs Bitcoins Potential Drop to 60000 Key Support Levels
Q1 I just saw Bitcoin recovered Why are people saying it could fall back to 60000
A Markets often move in waves A recovery doesnt guarantee a continued upward trend Analysts look at technical patterns market sentiment and trading volume to assess if a rise is sustainable or just a temporary bounce before a potential further decline
Q2 What does key support level mean in simple terms
A Think of a support level as a price floor where Bitcoin has historically stopped falling and bounced back Its a price point where a lot of buyers tend to step in creating demand that can prevent the price from dropping furtherat least temporarily
Q3 What is the specific key support level everyone is talking about right now
A While levels can change many analysts are closely watching the 61500 to 62000 zone If Bitcoins price falls and decisively breaks below this area on high volume it increases the likelihood of a drop toward the next major support around 60000
Q4 What would cause Bitcoin to fall to 60000
A Several factors could contribute a sharp downturn in overall stock markets negative regulatory news a period of sustained selling by large holders or a loss of bullish momentum that triggers automated sell orders
Q5 Is 60000 a bad price for Bitcoin
A Context is key For someone who bought at 70000 its a loss For someone who bought at 40000 its still a profit Longterm many investors still see 60000 as a strong valuation within a broader bull market but it represents a significant correction from recent highs
Q6 As a beginner what should I do if Bitcoin hits 60000
A Dont panic Have a plan beforehand Decide if this price aligns with your investment goals For many it could be a strategic buying opportunity but you should only invest what you can afford to lose and consider dollarcost averaging instead of trying to time the exact bottom
Q7 Whats the difference between support and resistance
A