Bitcoin Price Uncertainty: Will BTC Drop to $60K or Rally to $140K?
Bitcoin’s price is at a critical juncture, with analysts divided on whether BTC will face a sharp correction or continue its rally. Technical charts show a rising wedge breakdown, echoing Bitcoin’s 2021 price pattern that preceded a 50% drop, suggesting a potential revisit to the $60K–$62K zone. However, strong support around $104K (200-day moving averages) could mark a mid-term bottom, limiting downside risk. Bulls see the current pullback as a healthy correction, with a potential breakout above $113K opening the door for a rally toward $140K or even $150K–$200K. Traders and crypto investors should watch key support and resistance levels closely, as Bitcoin navigates volatility and the market debates its next move.
Will Bitcoin Price Repeat Its 2021 Pattern?
Several analysts warn that Bitcoin’s current structure looks eerily similar to its 2021 price action. Back then, BTC surged to fresh highs before forming a blow-off top, retesting resistance, and collapsing over 50% — from nearly $69,000 to just $32,000 within weeks.
Crypto strategist Reflection suggests that BTC may be entering the same four-step sequence now. On the weekly timeframe, Bitcoin has also broken below a rising wedge — a bearish formation that historically signals downside risk.
If this fractal holds, Bitcoin could revisit the $60,000–$62,000 zone, an area that aligns with its 200-week exponential moving average (EMA). Some bearish projections even extend toward $50,000.
Bitcoin Rising Wedge Breakdown Raises Risk Toward $60K
Bitcoin (BTC) has slipped out of a rising wedge pattern, a bearish setup commonly seen in the cryptocurrency market. This formation occurs when price makes higher highs and higher lows inside narrowing trendlines, often signaling a loss of bullish momentum. In crypto trading, such a breakdown is usually followed by strong selling pressure and sharp corrections.
Analysts now caution that this technical move could drag Bitcoin back toward the $60,000–$62,000 zone, a region that overlaps with its 200-week exponential moving average (EMA) — a key support level watched closely across the cryptocurrency market. If BTC fails to hold this area, some bearish projections extend toward $50,000, echoing the deep correction of 2021 when a similar wedge collapse erased more than 50% of Bitcoin’s value in just weeks.
For traders and investors, this highlights the inherent volatility of crypto markets. While Bitcoin remains the dominant cryptocurrency, the risk of a sharp shakeout persists, making the coming weeks critical in determining whether BTC repeats its 2021 correction or defends its mid-term support before another rally.
$104K Support Could Mark Bitcoin’s Mid-Term Bottom
Not all analysts see a bearish outlook for Bitcoin. Trader Jesse points to Bitcoin’s 200-day moving averages, currently near $104,000–$106,000, which often act as strong support in crypto markets.
This suggests that Bitcoin may already be forming a mid-term bottom, with downside limited as long as this zone holds. Many traders see this area as a potential launchpad for the next upward move in BTC.
Analysts Say BTC Is Still Far From a True Cycle Peak
Analyst Bitbull argues that Bitcoin is still far from its true cycle top. He highlights that the US Business Cycle, a key economic indicator, has not peaked yet — and historically, markets don’t reverse until it does.
With the Federal Reserve now cutting interest rates, he believes Bitcoin could enjoy three to four more months of upside momentum before a potential “blow-off top.”
Bullish Scenario: Bitcoin Could Rally to $140K and Beyond
For bulls, the recent pullback is being seen as a healthy correction. Analyst Captain Faibik believes Bitcoin is forming a bull flag pattern, with resistance at the $113,000 level. A breakout above this threshold could open the door for a rally toward $140,000 in the coming months.
Some long-term forecasts even see potential for Bitcoin to climb into the $150,000–$200,000 range before this cycle ends.
Key Support and Resistance Levels for Bitcoin Price in 2025
- Bearish targets: $60,000–$62,000, with risk extending to $50,000
- Support zone: $104,000–$106,000 (200-day SMA & EMA)
- Bullish breakout level: $113,000
- Upside targets: $124,500 (previous high), $140,000–$200,000 (potential cycle top)
Market Outlook: What’s Next for Bitcoin Traders?
With Bitcoin currently hovering near $109,000, the battle between bulls and bears is intensifying. If history repeats, BTC could face a steep correction before resuming its uptrend. However, strong support levels and favorable macro conditions may provide the launchpad for the next leg higher.
As always, market participants should exercise caution.
Disclaimer: This article is for informational use only and is not financial advice. Cryptocurrency trading carries significant risk. DYOR before making financial decisions.