NewsBTC
Feb 26, 2026
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BEARISH 📉 : Analyst projects Bitcoin price decline to $55,759

An Elliott Wave analyst predicts a further decline in the Bitcoin price as bearish pressures persist.

Key Insights:

  • The analyst anticipates Bitcoin may drop over 14% from its current level of around $65,000, reaching $60,385 based on the Fibonacci Retracement.
  • The final leg of Bitcoin's bear market phase, described as Wave 5, is now in motion following the conclusion of Wave 4.
  • A potential market bottom is projected at the 1.618 Fibonacci level of $55,759.
  • This potential decline could result in more than a 55% reduction from Bitcoin's all-time high above $126,000.

Wave 4 Performance Recap:

  • Bitcoin completed Waves 1 through 4 of a five-wave bearish impulse structure.
  • During Wave 4, Bitcoin fell below key retracement levels of $90,601 and $75,300.
  • The Wave 4 triangle was capped by resistance near $70,000 and supported by a trendline around $66,000, indicating continued bearish pressure.

Bitcoin Chart

The analysis suggests that without signs of recovery, Bitcoin may continue to experience downward movement until the correction is complete.