Bitcoin’s Cosmic Crash: Will It Hit $60K or Just Die Trying?

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Bitcoin’s price has been as unpredictable as a British summer-first a downpour of selling pressure, now a hesitant drizzle of rebound. After plummeting into the mid-$75,000 region, the cryptocurrency found support around $75,400, which is about as reliable as a penguin’s ability to fly. That support has since carried BTC back toward $79,000, with the price now pushing higher, and momentum can rebuild toward the important $80,000 price level. If this were a novel, the author would have called it “The Great Rebound of 2026.”

Although the bounce has eased immediate downside pressure, a technical analysis shared on X shows that the move may be occurring within a much larger bearish structure that could still have enough time to develop. Perhaps it’s a conspiracy, or maybe just the universe’s way of saying, “You’re not ready for this.”

Elliott Wave Structure Points To A Wave 3 Crash (Or Just A Very Confused Turtle)

Technical analysis shows that the recent Bitcoin sell-off and crash below $80,000 fit squarely within a larger Elliott Wave structure that still points to additional downside ahead. The Bitcoin technical chart outlines an extended decline that’s been playing out from the $126,000 peak in October 2025. It’s like watching a trainwreck in slow motion, but with more graphs.

Bitcoin Historical Performance Shows How Low The Price Will Go Before A Bottom Bitcoin kicked off a five-wave downward impulse move after it peaked at $126,000 in October. From the October 2025 high near $126,000, Bitcoin has already fallen roughly 41%, a drawdown the analyst claims aligns closely with prior warnings of a 40% to 50% crash in the early phase of a bear market. If only the bear market had a better sense of humor.

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2026-02-04 01:23