BEARISH 📉 : Analyst cites failed breakouts, warns Bitcoin may drop below $60,000
Analyst JDK: Bitcoin still bearish, risk below $60k after fourth fakeout
Bitcoin pushed above $75k but it was a fourth fakeout, says JDK. He warns bears still control the tape and sees risk below $60k.
Repeated breakouts failed. Momentum weakened. A recovery is not confirmed (NewsBTC, NewsBTC).
JDK’s post outlines the view. He labels the move above $75k a fakeout and keeps a bear bias (X post, Bitcoinist).
He frames price action as short-term reaccumulation inside a broader bear market (X post, Bitcoinist).
No bottom signals yet. Strong bottoms follow long downtrends and seller exhaustion with declining volume (Bitcoinist, NewsBTC, Bitcoinist).
Large buyers need liquidity. They target clustered orders and drive range swings. JDK calls it liquidity engineering (X post, Bitcoinist).
Upside tests near $75–76k keep failing with lower volume. Supply tops demand there (NewsBTC, NewsBTC).
His map: lose $75k decisively, next support sits near $59k. If that breaks, he tracks a deeper move below $56k as a possible final bottom (X post, NewsBTC).
