I just looked at the bitcoin chart — the price is currently hovering around $77.4K, which is already 39% below that peak in $126K last fall. Admittedly, the decline has been quite sharp, but here’s the interesting part: technical analysts say that $60K is the line that will decide what happens next. If the bitcoin price stays above this mark, the cycle is still alive. If it breaks below, we’re looking at $40K.

Looking at the weekly chart, I see an interesting pattern. Over the past two months, bitcoin’s price has been trading within the $63K-$76K range, and $60K acts as a strong support. According to analysts, this isn’t the first time such levels have played a key role. Previously, in bitcoin cycles, the price always returned to the macro trend line, which is now around $40K. If we look at history — in 2020-2021, the same thing happened: a drop to the trend, then accumulation, then a surge.

It’s fascinating to observe how the market tests these levels. Over the last 24 hours, bitcoin has fallen by 0.9%, but $60K has not broken yet. If it holds, the cycle continues normally. If not, $40K becomes the next target zone for the bottom. I will keep an eye on how the situation develops.