Bitcoin (BTC USD) Price Action Forecast Today: Could Bitcoin Still Drop to $60,000?

Bitcoin (BTC/USD) remains under pressure, with the weekly structure favoring the bears while the daily chart consolidates.

A confirmed break and retest below key support could open the door toward $60,000. On the other hand, a breakout above major resistance could invalidate the bearish setup and signal further upside.

The plan is simple: wait for confirmation. Let price action decide.

Key Takeaways:

1. BTC USD price action remains bearish on the weekly timeframe.
2. The daily chart is stuck inside a neutral consolidation zone.
3. A break and retest of support could push Bitcoin down to $60,000.
4. Always wait for clear price confirmation before entering any trade.

What High-Impact News Can Drive Gold XAU/USD This Week?

Key U.S. economic data and Federal Reserve updates can drive volatility in BTC/USD, especially releases tied to inflation, employment, interest rates, and the U.S. dollar.

These events can trigger sharp moves, breakouts, or false breakouts around key technical levels:

Source: Finlogix

However, for technical and price action traders, news should be viewed as a catalyst; not a trade signal.

The technical setup still needs to provide confirmation.

Remember: News acts as a catalyst, but price action should remain your primary confirmation.

What Is the Current Technical Price Action on BTC/USD Telling Us?

Weekly Chart Analysis: Bitcoin Is Potentially Forming a Lower High

Weekly Timeframe Price Action Analysis. Market Structure Forming a Potential Lower High (LH)

The weekly timeframe continues to show a bearish market structure.

Bitcoin recently rejected a major weekly resistance level and remains below the 50 EMA, which continues to provide secondary confirmation of the bearish trend.

Weekly Chart Price Action Analysis

More importantly, price has formed a strong bearish engulfing candlestick around a potential lower-high structure.

If sellers maintain control, this could indicate that Bitcoin is preparing for another leg lower.

Weekly chart observations:

1. Weekly market structure remains bearish.
2. Price has rejected a major weekly resistance level.
3. BTC/USD remains below the 50 EMA.
4. A strong bearish engulfing candlestick suggests increased selling pressure.
5. Price appears to be forming a potential lower high (LH).
6. The current structure continues to favor downside momentum.

The key question now is:

Will Bitcoin continue forming lower highs, or can buyers reclaim the major weekly resistance zone?

Daily Chart Analysis: BTC/USD Remains Trapped in Consolidation

Daily Timeframe Price Action Analysis. Price is Stuck inside a Consolidation Zone

The daily timeframe tells a more neutral story.

While the weekly chart remains bearish, BTC/USD is currently trading inside a consolidation zone. Buyers have been unable to achieve a confirmed breakout above resistance, while sellers have also failed to produce a decisive break down below key daily support.

This creates a classic wait-and-see environment.

Daily Chart Price Action Analysis

Rather than predicting which side will win, traders can wait for price to establish a confirmed breakout or breakdown and then look for a retest.

Daily chart observations:

1. Daily price action is currently consolidating.
2. The short-term market is neutral while price remains inside the range.
3. Buyers have not confirmed a breakout above weekly resistance.
4. Sellers have not confirmed a breakdown below daily support level.
5. BTC/USD remains below the 50 EMA, providing additional bearish context.
6. A confirmed break and retest could provide the next higher-probability trading opportunity.

What Is the Best BTC USD Price Action Setup Right Now?

Instead of forcing a trade inside the consolidation zone, there are two scenarios worth watching.

The key is simple:

Wait for price to come to the level. Wait for confirmation. Then execute.

1. Bullish Scenario: Support Retest Could Trigger a Move Toward $4,500

Daily Timeframe Price Action Analysis. Bullish Bias Anticipation

The bullish scenario would become more attractive if buyers can reclaim the major weekly resistance level between approximately $64,250 and $65,950.

A simple move above resistance isn't enough.

Bullish confirmation:

Bullish momentum could occur in BTC/USD if:

1. If price break and retest above weekly resistance level $65,950 - $64,250.
2. Proper breakout of weekly resistance level.
3. Confirm bullish candlestick rejections after the retest before considering continuation to the upside.

Trade idea:

Daily Timeframe Price Action Analysis. Bullish Take Profit and Stop-loss Placement

1. Target: $68,200
2. Stop-loss: Below the newly established support zone following confirmation.
3. Follow up confirmation: Break weekly resistance level → Retest as a support level → Bullish candlestick confirmation → Execute
4. Risk management: Use proper position sizing.

Note: The bullish scenario is considered lower probability because it would move against the prevailing higher timeframe bearish structure.

2. Bearish Scenario (Lower-probability setup)

Daily Timeframe Price Action Analysis. Bearish Bias Anticipation

The bearish setup is currently the scenario I would pay the closest attention to.

Why?

Because it aligns with the higher-timeframe bearish structure.

If Bitcoin breaks below the key daily support level around $62,255–$62,845, followed by a successful retest from underneath, sellers could gain the confirmation needed for another move lower.

Bearish confirmation:

Bullish momentum could occur in BTC/USD if:

1. If price break and retest above weekly resistance level $62,845 - $62255.
2. Proper breakout of weekly resistance level.
3. Confirm bullish candlestick rejections after the retest before considering continuation to the upside.

Trade idea:

Daily Timeframe Price Action Analysis. Bearish Take Profit and Stop-loss Placement

1. Target: $60,000
2. Stop-loss: Above the potential resistance zone
3. Follow up confirmation: Break daily support level → Retest as a resistance level → Bearish candlestick confirmation → Execute
4. Risk management: Use proper position sizing.

Note: The bearish setup is considered higher probability because it aligns with the higher timeframe bearish market structure.

Why wait for confirmation?

Professional traders focus on confirmation rather than forcing trades that won’t make sense.

Waiting for a confirmed break and retest helps reduce false breakouts and improves the probability of entering trades that align with the prevailing market structure.

A high-quality setup should include:

1. Clear market structure
2. Well-defined support and resistance
3. Breakout and retest confirmation
4. Candlestick rejection
5. 50 EMA trend confirmation

Final Take

BTC/USD remains bearish on the higher timeframe, with price below the 50 EMA and struggling to break key resistance.

A confirmed break and retest below $62,255–$62,845 could open the door toward the $60,000 Bitcoin price target.

However, a breakout and retest above $64,250–$65,950 could invalidate the bearish setup and push BTC/USD toward $68,200.

For now, wait for confirmation; don’t force the trade.

Break → Retest → Confirm → Execute.

______________________________________________________________________________________

FAQs

Is BTC/USD bullish or bearish?

BTC/USD remains bearish on the weekly timeframe, while the daily chart is consolidating.

Could Bitcoin drop to $60,000?

Yes. A confirmed break and retest below $62,255–$62,845 could open the path toward $60,000.

What is the key BTC/USD resistance?

The key resistance zone is $64,250–$65,950. A confirmed breakout could target $68,200.

What is the BTC/USD bullish scenario?

A break and retest above $64,250–$65,950 could signal further upside toward $68,200.

What is the BTC/USD bearish scenario?

A break and retest below $62,255–$62,845 could signal further downside toward $60,000.

What news can impact BTC/USD?

U.S. inflation, employment data, interest rates, and Federal Reserve decisions can increase Bitcoin volatility.

Should you trade BTC/USD based on news?

No. News is a catalyst, not a trade signal. Wait for price action confirmation.

What is the best BTC/USD strategy right now?

Wait for confirmation before entering: Break → Retest → Confirm → Execute.

______________________________________________________________________________________

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Beginners Path

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1. Beginner Trading Steps: 4 Rules to Follow Before You Trade
2. Beginner Trading Steps: Mistakes That Can Slow Down Your Progress (And How to Avoid Them)
3. The 1% Risk Rule: The Most Common Mistakes That Quietly Destroys 90% of Traders
4. Habits of a Successful Traders: What are the 4 Ways to Build Discipline in Trading?
5. Beginner Trading Guide: The Complete Beginner's Roadmap to Smarter Trading (Step-by-Step)
6. A Complete Beginner's Guide: What are the Only Technical Trading System You Need to Trade Gold, Forex, Crypto, Commodities & Indices?

Mastering The Art of Price Acton Trading

Learn how to read market structure, identify key levels, and trade high-probability setups using pure price action.

1. Why Price Action Trading Works: A Simple Framework You Can Use in Any Market
2. Mastering Price Action at Key Levels: How to Identify and Trade High-Probability Setups on Key Levels

Mastering Popular Forex Pairs Using simple price action strategy

Ready to learn simple price action strategy? Here’s how to do it step by step:

1. USD/JPY Analysis Today: Simple Trades, Clear Moves, for Beginners Using Price Action
2. Simple Day Trade Price Action On EUR/USD: Why the Drop to 1.14190?
3. Simple Price Action Analysis on EUR/CAD: EURCAD the Pair for the Week?
4. Simple Price Action Strategy on USD/ CHF: 0.80000 the Key Ceiling for USD/CHF Sell?
5. Price Action Analysis for GBPCAD Trade: A Potential Trade for This Week or Next Week?
6. EUR/GBP Trading Guide: How to Spot High-Probability Setup a Week Ahead Using Simple Price Action Strategy?
7. Simple Price Action Trade on CAD/JPY: 115.000 the Key Floor for CAD/JPY Buy?
8. USD/JPY Price Action Outlook: Is 158.500 the Key Floor for a Potential New High?
9. CAD/JPY Price Action Breakdown: We Anticipated the Move Twice to 116.500, Is Price Action Really the King?
10. GBP/NZD Trade Ideas Using Simple Price Action Strategy: Will Price Drops to 2.28000?
11. USD/JPY Technical Forecast: 158.500 Floor Retest for Preparing for New Highs?
12. GBP/CHF Price Action Ideas: Is 1.05500 the Ceiling for a New Low?
13. GBP/CAD Simple Forex Price Action Ideas: Is the 1.84500 Support Level Holding?
14. AUD/USD Simple Price Action Forecast: Why Buy at 0.71700 Support Area?
15. GBP/NZD Price Action Idea: Is GPB/NZD 2.3000 Key Floor for Bullish Continuation?
16. GBP/USD Price Action: Trade Setups on a Ranging Market?
17. USD/CAD Simple Price Action: Is 1.36500 the Key Bullish Floor?
18. USD/CAD Price Action Ideas: Setting Up for the Next Bullish Push?
19. EUR/JPY Price Action: Is It Retesting a Reversal Pattern?
20. NZD/USD Forecast: Potential Consolidation Breakout on NZD/USD?
21. AUD/JPY Price Action Forecast: Is AUD/JPY Setting Up for a Massive Sell?
22. NZD/USD Price Action Forecast: Is a Reverse Double Top Pattern Forming?
23. NZD/USD Price Action Forecast: Is a Reverse Double Top Pattern Forming?
24. AUD/CHF Forex Price Action Idea: Are Sellers Defending the 0.56504–0.56200 Key Level?
25. AUD/CHF Price Action Forecast: Price Breaks Below Consolidation, What's Next?
26. EUR/USD Forecast Today: Can NFP News Today Push EUR/USD Down to 1.13000?
27. EURCHF Price Action Forecast: Is a Bearish Double Top Signaling a Major Drop?
28. EUR/USD Price Action Forecast Today: Will the 1.14150–1.14520 Resistance Trigger a Drop to 1.13500?
29. EUR/USD Price Action Forecast Update Today: Is the 1.1410 – 1.4520 Resistance Level Still Potentially Trigger a Drop?
30. GBP/AUD Price Action Forecast Today: Will the British Pound or Australian Dollar Come Out on Top?
31. EUR/AUD Price Action Forecast Today: Will the 1.63930 Support Trigger the Next Bullish Move?
32. GBP/CAD Price Action Forecast Today: Will the 1.88260–1.87700 Support Zone Trigger the Next Bullish Move?
33. EUR/AUD Price Action Forecast Update: Buyers Defended 1.63930 Support level, Was the Bullish Trade Confirmed?
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Master How to Identify Market Trend

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1. A Guide to Master Price Action Strategy that Works in Any Market: How to Master the Trend in Trading Any Market
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3. A Guide to Master a Price Action Strategy That Works in Any Market: Complete Guide on How to Trade with Market Structure + Support & Resistance (Step-by-Step)

Learn of How to Identify Support and Resistance

1. A Guide to Master a Strategy that Works in Any Market: How to Identify Support and Resistance Levels?
2. A Guide to Master a Price Action Strategy That Works in Any Market: Complete Guide on How to Trade with Market Structure + Support & Resistance (Step-by-Step)

Master ow to use break & retest pattern

Ready to learn and capitalize the repetitive patterns in the markets? Here’s how to do it step by step:

1. Break and Retest: A Simple Repetitive Price Action Pattern?
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3. EUR/JPY Price Action: Is It Retesting a Reversal Pattern?
4. False Breakouts: How to Avoid Breakout Traps and Trade Smarter?

Master How to Use Candlestick Confirmation & Patterns

Discover how candlestick patterns can help confirm market direction:

1. The Top Japanese Candlestick Patterns to Trade: Mastering Japanese Candlestick Confirmation + Pairing with Price Action Analysis
2. The Top Japanese Candlestick Patterns to Trade: How to Use the Engulfing Candlestick as a High-Probability Entry Signal
3. Bullish and Bearish Pin Bar Candlestick: The Complete Guide to Trading Reversal Candlestick Confirmations

Master the Art of Trading Trend Reversal Patterns

1. Reversal Chart Patterns: The Complete Guide to Spotting Bullish and Bearish Trend Reversal Pattern in Trading

Mastering the 50 EMA

1. Master Exponential Moving Average: How to Trade using EMA Indicator with Price Action Analysis?

Learn How to Trade Gold

Gold is still one of the most traded assets, here’s how to trade it with confidence:

1. XAUUSD Price Action: A Beginner Buy Setup for Next Week
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4. XAU/USD Price Action: Will Gold Rally to $4,900 Today?
5. Gold (XAU/USD) Price Action Forecast: Will XAU/USD Drop to $4650?
6. Gold (XAU/USD) Trade Ideas: A Simple Price Action Analysis on Gold This Week?
7. Gold (XAU/USD) Price Action Idea: A High-Probability Trade Setup on Gold?
8. Gold XAU/USD Price Action Idea: Is a Bullish Momentum Coming?
9. Gold (XAU/USD) Price Action Ideas: Will News Trigger a Breakout or Consolidation on Gold?
10. How to Step-by-Step Swing Trade Gold (XAU/USD) with Pure Technical Price Action Analysis?
11. Gold XAU/USD Price Action Forecast: Anticipating a Consolidation Breakout on Gold Again?
12. Gold XAU/USD Price Action News Forecast Today: Can XAU/USD Break Above the $4,200–$4,190 Resistance Zone or Hold?
13. Gold XAU/USD Forecast Update Today: How the $4,200–$4,190 Resistance Zone Triggered the Selloff?
14. Gold (XAU/USD) Price Action Forecast Update Today: Is the Double Top Pattern Signaling Another Gold Selloff?
15. Gold (XAU/USD) Price Action Forecast Update Today: Did the Double Top Pattern Trigger the Massive Selloff?
16. Gold (XAU/USD) Price Action Forecast Update Today: Could Gold Price Still Drop to $3,930?
17. Gold XAUUSD Price action Forecast: Is the Gold Breakout the Next Big Move?

Swing Trading 101

1. How to Step-by-Step Swing Trade Gold (XAU/USD) with Pure Technical Price Action Analysis?

Learn How to Trade Crypto with Price Action Strategy

1. Bitcoin BTC/USD Price Action: Could Bitcoin Still Keep Dropping?
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3. Bitcoin (BTC/USD) Forecast Update: Has the $58,000 Correction Ended?
4. BTC USD Price Action Forecast Today: Is the $66,070 – $65,470 Resistance the Key to Bitcoin's Next Move?
5. BTC/USD Price Action Forecast Update Today: Did the $66,070–$65,470 Resistance Trigger Bitcoin's Next Move?

Mastering Trader's Mindset

Your mindset is what separates steady growth from costly mistakes. Focus on these essentials:

1. Trading Mindset: Why Trading Exposes Who You Really Are?
2. Consistency in Trading is Key: Why Discipline Beats Intelligence?
3. Overtrading: Why More Trades Do Not Mean More Profits?
4. Trading Wick Outs: How to Handle Fake Outs and Market Losses?
5. Trading Psychology: The Truth About Trading Success
6. Deliberate Practice in Trading: Why Intentional Practice Beats More Screen Time?
7. Trading Psychology: Why Most Traders Struggle With Consistency? (And It Has Nothing to Do With the Market)
8. Mastering the Three Pillars of Profitable Trading: Risk Management, Trading Strategy, and Trading Psychology
9. The Mental Game of Trading: How to Overcome Trading Hesitation and Execute Trades with Confidence?
10. Emotional Neutrality in Trading: The Secret Weapon of Consistent and Discipline Traders

Professional Trader's Mindset Masterclass

Develop the mindset of a professional trader by mastering discipline, emotional control, patience, and consistency to achieve long-term trading success:

1. Trading Psychology: Why the Mindset of a Profitable Traders Separates from Everyone Else?
2. The Professional Trader's Mindset: 6 Psychological Traits Every Consistently Profitable Trader Needs

Risk Management Series

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1. Risk Management in Trading: What Is the Secret to Long-Term Trading Success?
2. Risk Management 101: The 20% That Determines Whether You Survive, Scale, and Succeed in Trading

Learn Position Sizing

1. Master Position Sizing in Trading: 5 Rules to Protect Your Capital and Grow Your Account

Beginner trading roadmap

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1. Common beginner Traders Mistakes → avoid overtrading, revenge trading, and chasing the market.
2. Master Traders Psychology → build discipline, patience, and emotional control
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4. Master Simple Technical strategies & Indicators → especially price action, key levels, and market structure.
5. Applying to Real Market → forex, crypto and indices.

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Disclaimer:

Trading forex and derivative instruments involves substantial risk and may not be suitable for all individuals. Only use funds that you are prepared to lose. It is important to understand how these markets work and the risks involved before trading, and to seek independent financial advice if needed. All market analysis and insights shared are intended for educational and informational purposes only and should not be considered financial or investment advice. August 17, 2026.