"The last plunge before the surge is coming"...Bitcoin, 60,000 dollar collapse warning

▲ Bitcoin (BTC)

Bitcoin (BTC) is continuing its short-term upward trend and attempting to enter the $78,000 range. However, an analysis suggests that a final correction, a sharp drop below $60,000, remains before breaking past its previous high.

Tim Warren, host of the cryptocurrency podcast Investing Broz, stated in an interview with the crypto YouTube channel Paul Barron Network on April 11 that, based on the technical trends of Bitcoin and Ethereum (ETH), the market has entered a phase where it is simultaneously preparing for a short-term rise and a medium-term correction.

Warren explained that Bitcoin's recent 10% increase over the past 8 days, attempting to recover $73,000, supports a bullish scenario. He analyzed that the chart shows a rising wedge pattern forming, indicating a condensation of price energy.

Based on the weekly Gaussian band, he presented a 95% probability of Bitcoin rising to the $77,000 to $78,000 range. However, he added that if the $72,000 support level falters, a re-purchase strategy near $70,000 would be effective. He suggested a strategy of aiming for increased profits through swing long positions in the sustained upward trend.

Ethereum showed a similar trend to Bitcoin, with a weekly buy signal confirmed. Its recent 12% increase over the past 8 days, recovering to $2,250, was cited as key evidence. The explanation is that major indicators, including the Relative Strength Index, are moving in the same direction as Bitcoin, increasing the likelihood of a synchronized rise. Based on the Gaussian band, the $2,300 to $2,500 range was presented as the next target.

Warren mentioned the possibility that the current upward trend could transition into a sharp correction coinciding with the passage of the US cryptocurrency market structure bill in May or June. He analyzed that after the disappearance of positive news, in a phase where selling pressure intensifies, Bitcoin could drop below $60,000, confirming a final bottom. Warren said, “Short-term upward momentum remains strong, but further bottom formation is needed until a bullish divergence is confirmed on daily and weekly charts.”

The macro environment is favorable to the market. The Consumer Price Index was announced at 3.3%, falling below expectations, and the easing of tensions in the Middle East also supported investor sentiment. Furthermore, Morgan Stanley's move to launch a Bitcoin spot ETF is expanding the channels for institutional capital inflow.

Warren predicted a typical bull cycle where Bitcoin first breaks its previous high, followed by altcoins. He anticipated a structure where the bullish trend would fully begin at the end of 2026 and peak in early 2027.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*