News View Non-AMP

Bitcoin Price Prediction: Deeper Drops to $60K Levels on Cards Amid Looming Concerns About ‘Death Cross’

Published by
Anjali Belgaumkar

The analyst of Crypto Banter’s Kyle Doops Show is currently leaning towards a 65% to 70% bullish bias for Bitcoin, indicating confidence in the market continuing upward. The immediate focus is on breaking the month’s high at $72,000. If bulls achieve this, it could signal further upward momentum. 

Critical 5-Day Candle Close

The analyst said we have about 16 hours and 56 minutes left until the current 5-day candle closes on Bitcoin’s chart. These candles are crucial because Bitcoin has been trying for 55 days to break above $69,615 without success. This creates a tense situation where low volatility could soon lead to a big move—either a strong rise or a sharp drop, possibly down to $60,000. If this candle closes above $69,000, it’s very bullish. If not, we might see a deeper drop.

Low Volatility and Potential Swings

Volatility is currently very low at 2.43%, which usually happens before big price swings. In past corrections, prices surged when volatility hit near 10%. Bitcoin has been correcting for 91 days, the longest in this Bull Run. If it doesn’t recover soon, the correction might continue into Q3.

Current Price Levels and Technical Concerns

According to Elliott Wave theory, Bitcoin is in Wave 4, likely around $56,000. Confirmation of Wave 4 ending would be a close above the high of Wave 3, signaling the start of Wave 5, which typically starts with low volatility before a big upward move. Wave 5 is when things get exciting, especially for altcoins. There could be multiple Wave 5 cycles within the overall bull market, offering chances to buy low.

Bearish Signals and Support Levels

Right now, Bitcoin is stuck around the mid-range level of $67,500. If it breaks above $73,000, that’s bullish. If it can’t hold above $69,000, we might see more short-term trading within this range, potentially down to around $63,000.

There’s a concern about a “death cross” forming, indicating potential bearish pressure unless Bitcoin can reclaim key levels. If support breaks, the next significant bounce level is around $63,000 to $64,500.

Also Read: Altcoins Display Strength UNI Price Eyes 15% Rise While TON Price Marks New High

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Brett (BASED) Price Prediction 2025, 2026 – 2030: Will BRETT Price Hit $0.5?

Story Highlights The live price of the BRETT memecoin is . Brett (BASED) price could…

April 26, 2025

Trump Memecoin Skyrockets — But Are Whales Planning Their Exit?

The $TRUMP memecoin has been making waves in the crypto world, especially following a recent…

April 26, 2025

XRP Price Prediction: Is a Surge to $33–$100 Realistic? Here’s the Truth

XRP News April 26th: Sistine Research’s latest XRP price prediction has stirred strong reactions across…

April 26, 2025

Swiss National Bank Says No to Bitcoin Reserves

Swiss National Bank (SNB) President Martin Schlegel announced at the 2025 General Assembly that the…

April 26, 2025

Switzerland’s Crypto Regulation Faces Heat as Bitcoin Reserve Strategy Sparks Debate

As inflation rises and economic uncertainty deepens, Switzerland is facing fresh pressure to rethink its…

April 26, 2025

Bitcoin SV Price Prediction 2025, 2026-2030: Will BSV Price Hit $100?

Story Highlights The live price of the BSV token is . BSV price may reach…

April 26, 2025