Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are both flashing bearish structure signals as analysts warn $60,000 and $1,686 are the next targets if key support levels fail.
What Analysts Are Saying About Bitcoin Van de Poppe: $60,000 Is the Last Line Analyst Michaël van de Poppe said on X that a $38 million Coldcard hardware wallet drain hit markets Thursday, pulling Bitcoin below key moving averages.
He said the structure remains barely intact above the 21-day and 50-day moving averages, with $60,000 to $61,000 as the last meaningful support if those levels break.
"If this doesn't hold, there's one support level left: $60,000 to $61,000 and that's where we need to find buyers otherwise new lows are imminent," van de Poppe wrote, adding that Nasdaq strength could pull Bitcoin back after the US open.
TraderMorin: Lower Low, Lower High — Structure Is Broken Analyst TraderMorin confirmed the structural breakdown on X, noting Bitcoin formed a lower low Tuesday followed by a lower high overnight.
