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<p>The post <a href="https://coinpedia.org/news/bitcoin-price-prediction-deeper-drops-to-60k-levels-on-cards-amid-looming-concerns-about-death-cross/">Bitcoin Price Prediction: Deeper Drops to $60K Levels on Cards Amid Looming Concerns About ‘Death Cross’</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>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.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-critical-5-day-candle-close"><strong>Critical 5-Day Candle Close</strong></h2> 
<p>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.</p> 
<h2 class="wp-block-heading" id="h-low-volatility-and-potential-swings"><strong>Low Volatility and Potential Swings</strong></h2> 
<p>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.</p> 
<h2 class="wp-block-heading" id="h-current-price-levels-and-technical-concerns"><strong>Current Price Levels and Technical Concerns</strong></h2> 
<p>According to Elliott Wave theory, <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> 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.</p> 
<h2 class="wp-block-heading" id="h-bearish-signals-and-support-levels"><strong>Bearish Signals and Support Levels</strong></h2> 
<p>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.</p> 
<p>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.</p> 
<p>Also Read: <a href="https://coinpedia.org/price-analysis/altcoins-display-strength-uni-price-eyes-15-rise-while-ton-price-marks-new-high/">Altcoins Display Strength UNI Price Eyes 15% Rise While TON Price Marks New High</a></p>

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

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