Bitcoin breaks triangle, tests $60,800 support; traders eye drop to $55,500

BTC breaks down from triangle, tests demand. The $60.7k–$60.8k zone is the pivot.

Analyst Minga flags a bearish breakout and a move toward the 50% wick-fill of last week’s candle, an untested liquidity area. He expects a previously front‑run long to fill, with 0.25% risk as a hedge against his short position link and link.

Minga keeps a bullish bias for the month but needs a bounce from $60,700. A breakdown brings $58,900 into view. He sees $60,700–$58,900 as a high‑probability recovery zone if confirmed link and link.

Exhaustion is visible on the daily trend. That does not guarantee reversal. Chop can persist as liquidity gets hunted both ways, a pattern common near turning points link.

If current supports fail, he maps the next downside zone at $54,500–$49,000 link.

According to @wangtuai888, $60,800 is the key battleground. It marks a POC and vacuum zone. A 1‑hour solid close below it signals a sharp drop link.

If $60,800 holds, he looks for a rebound to $62,400 to take the prior minor high, then a pullback to the $61,800 POC for longs link.

He then plans a tactical short near $63,000 with a high reward‑to‑risk setup link.

He stresses the rebound is not a full reversal. The broader trend stays down. His cycle target sits at $55,500 link.

Key levels to watch:
- Bitcoin support 60,700–60,800
- Rebound path 62,400 then 61,800
- Short zone near 63,000
- Downside targets 58,900, 55,500, 54,500–49,000