Bitcoin has hit what one analyst describes as a major ceiling after losing the 
support level that held the market together for months. Following a failed 
push toward $83,000, the analyst now believes buying Bitcoin at current prices 
carries more risk than opportunity. Instead, he points to a much lower target, 
a level where buyers may finally step back into the market with conviction. 
Bitcoin’s Former Support Has Turned Into Resistance The analyst’s outlook 
centers on the collapse of the $80,500 area, a level that previously acted as 
the backbone of Bitcoin’s trading range for months. During earlier pullbacks, 
buyers repeatedly defended that zone and helped stabilize price action, 
allowing Bitcoin to recover and attempt new highs. That dynamic now appears to 
have reversed. Related Reading: Can The Ripple Banking License Serve To Push 
The XRP Price To $25? After briefly climbing toward $83,000 in May, Bitcoin 
failed to maintain momentum and quickly lost strength. The rejection created 
what the analyst described as a bull trap, where buyers entered expecting a 
breakout only for the market to reverse sharply lower. Since then, the same 
price region that once attracted demand has started functioning as resistance. 
This suggests that buyers who previously defended the area are either 
exhausted or stepping aside, while sellers are becoming increasingly 
aggressive on rebounds. According to the analyst, this shift explains why 
recent recovery attempts have lacked conviction and faded quickly. The 
breakdown also exposed how fragile the structure beneath the market had 
become. Once Bitcoin slipped below the range floor, selling pressure increased 
rapidly, creating what traders sometimes describe as an “air pocket” — a zone 
where there is little strong buying interest to slow the decline. Although 
Bitcoin is still trading above the mid-$70,000 region, the analyst does not 
believe that area represents a durable floor. Instead, it is viewed as 
temporary support within a broader downward move that has been developing for 
months. Why The Analyst Is Watching $60,000 The analyst believes the more 
attractive entry zone sits much lower, specifically between $60,000 and 
$62,000. That projection is tied to a Fibonacci extension level near $60,000, 
which is being treated as the broader downside target of the breakdown 
structure that began forming earlier this year. Related Reading: XRP Pushing 
To $100: The Market Cap Conversation Will Go Out The Window If This Happens 
From the analyst’s perspective, the market has not yet completed its 
correction. Previous failed rallies near both $97,000 and $83,000 are now 
being viewed as signs of weakening momentum rather than evidence of long-term 
strength. The expectation now is that any short-term rebound could run into 
renewed selling pressure below the broken $80,500 barrier. Until Bitcoin 
either reclaims that level convincingly or falls into the projected lower 
demand zone, the analyst sees little justification for aggressively buying the 
market. That outlook reflects a growing divide among traders. He advises that, 
instead of buying at the current price, the better entry opportunity could 
come if Bitcoin falls toward the $60,000 to $62,000 region, where he expects 
stronger long-term demand to return. Featured image created with Dall.E, chart 
from Tradingview.com

Bitcoin has hit what one analyst describes as a major ceiling after losing the support level that held the market together for months. Following a failed push toward $83,000, the analyst now believes buying Bitcoin at current prices carries more risk than opportunity. Instead, he points to a much lower target, a level where buyers &#8230;

Bitcoin Has Hit A Ceiling, Analyst Says No Buying Until Price Hits This Level

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Bitcoin Has Hit A Ceiling, Analyst Says No Buying Until Price Hits This Level

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