I noticed that Bitcoin is now moving near a very critical zone. The current price is around $77,420, but there is a very important support level at $60,000 that could be the dividing line between continuing the cycle or a deeper collapse.

Analyst Leshka.eth recently shared his view on this matter. He says that the price has dropped about 48% from its peak of $126,080 reached last October. In the past 24 hours, it has decreased by approximately 0.91%. The interesting thing here is that Bitcoin has not broken below $60,000 yet, which means buyers are maintaining an important defensive position.

If you look at the weekly chart, you'll notice that this level has acted as a strong floor throughout the past two months. The current price structure is moving between $63,000 and $76,000, and the real test will come if the price attempts to break through $60,000.

There is a long-term trend line extending from 2018 to now indicating that the $40,000 level is the true bottom of the current cycle. But if Bitcoin can hold above $60,000, the cycle continues upward. The bottom line is that this moment is very critical in determining the price trajectory for the coming months.