Feb 10, 2026
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BEARISH 📉 : Bitcoin risks further drop to $60,000 amid weak support
As the crypto market rebounds from last week's correction, Bitcoin is striving to reclaim a crucial price zone.
Key Points:
- Bitcoin's price has increased by 17.5% after hitting a two-year low of $60,000, currently trading between $68,000 and $72,000.
- Some analysts warn BTC might retest its recent lows despite the bounce.
- Crypto Bullet noted a strong weekly close above the 200-week EMA, but cautioned that such wicks often get filled the following week.
- Ted Pillows emphasized the importance of the $68,000 support level, warning of deeper corrections if this level fails.
- Ali Martinez suggested Bitcoin's bottom may not be in yet, potentially around the −1.0 MVRV Pricing Band at $52,040.
Market Patterns and Predictions:
- A macro descending triangle pattern suggests a possible "lesser relief rally."
- Rekt Capital noted Bitcoin's historical reaction from the 50-Month EMA but warned of potential downside deviations.
- If BTC builds support above $71,000, it could move into the mid-$70,000 range.
- The current price range shows signs of flipping into resistance on the weekly timeframe.
- Bitcoin might consolidate around its post-halving range, with further structural movements expected.
Investors should monitor these key support and resistance levels to anticipate future price movements.