Bitcoin Price Lows: Analyst Says We’re Doomed If This Happen
Analysis
Price Impact
HighThe article highlights a critical support level at $60,000 for bitcoin. failure to hold this level could trigger a significant sell-off towards $44,000, while holding it could lead to a bounce back to $70,000-$75,000.
Trustworthiness
MedThe analysis comes from 'swallow academy', an analyst mentioned in the article. while the article claims strict editorial standards, the specific credibility of 'swallow academy' is not detailed, making the trustworthiness medium.
Price Direction
BullishThe primary scenario discussed is a potential recovery if bitcoin holds the $60,000 support level, with the analyst predicting a bounce to the $70,000-$75,000 range.
Time Effect
ShortThe analysis focuses on immediate price action and the critical support level that needs to be held in the short term to avoid further declines and initiate a recovery.
Original Article:
Article Content:
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The Bitcoin price action over the last few months has been unpredictable. But one thing has been clear, and that is the fact that bears have remained firmly in control of the price action. From here, there are a number of ways that the Bitcoin price could play out, with most speculations pointing toward a possible recovery . However, there are levels that the Bitcoin price must maintain in order to actualize this recovery or risk losing ground to bears. Bitcoin Price Needs To Hold Above $60,000 Crypto Analyst Swallow Academy, in a recent analysis, showed that the $60,000 level has become one of the most important support points for the Bitcoin price . This is because this was the lowest point of the early February crash, suggesting that bears may want to retest it again. Related Reading Dogecoin Vs. Shiba Inu: What Meme Coin Should You Buy For Most Returns In 2026? 1 day ago Given this, it has become imperative that bulls hold this in order to activate another recovery trend. In this case, if bulls are able to successfully defend the price and hold above $60,000, triggering a reclaim of buy-side volume, then a recovery will follow. The analyst predicts that such a recovery would see the Bitcoin price bounce back to the $70,000-$75,000 area. As a result, the major city of liquidity would be wiped out. After this, a downtrend would eventually begin, which would be the natural path for such a trend. However, in the case of bulls failing to hold $60,000 and buy-side pressure fails , then sell-side pressure is expected to rise. This scenario would see the Bitcoin price begin to dip faster than expected and trigger another crash trend, to push it toward new yearly lows. Related Reading What To Expect For Ripple’s XRP If A Retail Run Were To Happen 1 day ago Source: TradingView Swallow Academy’s analysis posits that a break of the local lows would result in another very deep move to lower lows. While this is not entirely bearish , as the price is expected to recover from lows, the chart shows that the Bitcoin price could dip below $44,000 before a local bottom is then established. Currently, Bitcoin bulls have mounted a notable defense above $62,000, suggesting that this is the next level to beat for bears. Alternatively, the previous cycle low lies at $61,354, and a break below this point would be the first time that Bitcoin has done this in history. BTC bulls make another play for $70,000 | Source: BTCUSD on Tradingview.com Featured image from Dall.E, chart from TradingView.com