Bitcoin Price to $60K? Veteran Crypto Trader Warns of Months of Pain Ahead

A well-known crypto veteran Alex Wacz has issued a stark warning: Bitcoin may not be done falling. In a new post, the analyst said BTC still targets $60,000 over the next six months, even though the market could see a short-term relief bounce first. His view comes with a detailed weekly chart that outlines exactly how this scenario could unfold.

The chart shows Bitcoin struggling below a long-term diagonal resistance lineč the same trendline that has rejected major moves multiple times since early 2024. Each rejection has been followed by a deeper retracement, and the current structure looks no different. Right now, BTC trades near $93,000 after a volatile few weeks, but the analyst believes this recovery is unlikely to hold without a deeper reset.

Bitcoin Chart: Two Bounce Scenarios, One Destination

His chart outlines two possible “final pump” scenarios before the real correction begins. The conservative path shows the BTC price bouncing toward the $117,000 zone, while the more aggressive scenario indicates a move as high as $139,000. Both regions sit right below the macro resistance line — the same one Bitcoin has failed to break for almost two years.

Source: X/@wacy_time1

But after that, the BTC chart points in one clear direction: a drop to the $60,395 area. That zone is highlighted as the key high-timeframe support and the logical place for Bitcoin to complete a full cycle correction.

Supporting this view, the analyst’s momentum indicator (shown at the bottom of the chart) is rolling over in the same pattern seen before major pullbacks in 2023, 2024, and 2025. According to him, the cycle isn’t finished, and momentum still needs to reset lower before the next true uptrend can begin.

There is growing agreement across the market. Several other macro-focused traders have also predicted that Bitcoin will likely revisit the low $60K range sometime in 2026, even if we get a strong bounce beforehand. Global liquidity tightening, rising yields, and ETF outflows all reinforce that possibility.

For long-term investors, the message is simple: the strongest opportunity may not arrive until Bitcoin finally taps its $60K support zone. If this analyst is correct, the most painful part of this correction, and potentially the best entry, still lies ahead.

Read also: The World’s Biggest Bitcoin Holder Is Now Worth Less Than Its BTC

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