bullish

Bitcoin <a href="https://yellow.com/asset/btc" rel="noopener noreferrer nofollow">(BTC)</a> dropped below $80,000 and fell as low as $77,082, breaking the critical $82,000 support level from November 2025 that had sustained the rally for months and prompting analysts to declare the <a href="https://yellow.com/news/bitcoin-holds-critical-support-as-22-of-supply-trades-underwater" rel="noopener noreferrer nofollow">bullish technical structure</a> invalid with price targets now pointing toward $60,000.
<h2 id="what-happened-elliott-wave-structure-collapses">What Happened: Elliott Wave Structure Collapses</h2>
Analyst XForceGlobal <a href="https://x.com/XForceGlobal/status/2017643249608102271" rel="noopener noreferrer nofollow">shared</a> detailed Elliott Wave analysis on X showing the breakdown represents a fundamental shift in the technical framework. Bulls had <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-breaks-key-support-analyst-signals-lower-levels-ahead/" rel="noopener noreferrer nofollow">completed</a> three of five components in a complex sideways WXY pattern before failing to defend the prior low.
That failure changed everything.
Once Bitcoin broke below $80,000, the primary wave count could no longer hold. The analyst noted that price action from the all-time high above $126,000 in October 2025 should now be treated as corrective rather than part of a healthy continuation.
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<h2 id="why-it-matters-both-scenarios-target-60k">Why It Matters: Both Scenarios Target $60K</h2>
Two bearish interpretations have emerged from the analysis, and both converge on similar downside levels. The first envisions a flat correction with Bitcoin unfolding a C wave that drags price to $60,000.
The second scenario describes a macro ending diagonal structured as a WXY move to the downside using the October 2025 all-time high as a reference point.
XForceGlobal recommends adopting a shorter-timeframe bearish bias while the larger structure remains compromised. The outlook suggests Bitcoin continues <a href="https://yellow.com/news/bitcoin-drops-to-dollar77700-as-capital-inflows-stall-and-strategy-goes-underwater" rel="noopener noreferrer nofollow">declining to at least $60,000</a> before any meaningful recovery attempt toward $100,000.
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Elliott Wave Analysis Shows Bitcoin Heading To $60K

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Other articles published on Feb 2, 2026

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