Not $60,000: Analyst Reveals The Best Time To | Crypto News
Bitcoin’s crash over the weekend has introduced the $60,000 stage back into the market dialog, but crypto analyst Merlijn The Trader believes the real alternative might come at a decrease price. Technical analysis evaluating the current Bitcoin construction with the 2022 Wyckoff accumulation section reveals that shopping for the current bounce can be a expensive mistake because the real accumulation window has not even opened yet.
Bitcoin’s Wyckoff Setup Points Below $60,000
To perceive where Merlijn The Trader believes Bitcoin is headed, it helps to perceive where it has been. Merlijn’s analysis is constructed around the Wyckoff accumulation model, utilizing Bitcoin’s 2022 bottoming construction as the reference level.
Back in that cycle, Bitcoin fashioned a spring around $15,500, recovered into the $23,000 area, where keen consumers rushed in, believing the worst was over. However, it was not. The price motion then delivered a secondary wave of promoting that crushed late consumers before the real markup section started.
The analyst believes the 2026 construction is developing in a related approach. His chart reveals Bitcoin presently trading around the same stage where the market beforehand moved through a signal of strength, misplaced momentum, and later dropped into the spring section. The important message is that any bounce from the current area is probably not the purpose where merchants ought to turn out to be aggressive on their shopping for.
Another important message from the analysis is that the $60,000 stage could also be deceptive. Bitcoin fell below that stage during the current selloff, and it’s important as a help because it’s close to the 200-week transferring average.
Bitcoin Price Chart. Source: @MerlijnTrader On X
The DCA Zone That Could Matter Most
The Wyckoff setup by Merlijn identifies 5 phases: Phase A stops the downtrend via a promoting climax, Phase B builds the trigger as establishments accumulate within the vary, Phase C delivers the spring, which is a closing shakeout below help, Phase D marks up within the vary with a last level of help and a signal of strength, and Phase E is the breakout and uptrend.
Merlijn’s chart locations Bitcoin inside this construction in 2026, with the Spring section still forward. The analyst’s projection is that a Spring to $50,000 is incoming, adopted by a bounce rally to the $65,000-$70,000 vary. That bounce, he warns, will once again lure in bulls who will buy into what seems to be a recovery, the same lure that caught traders in 2023.
Merlijn locations Bitcoin’s dollar-cost averaging zone between $48,000 and $59,000. This vary is the half of the chart where he expects the better long-term entries to seem. Therefore persistence is required, and the conclusion is that the best time to start shopping for Bitcoin might come when worry is strongest inside the $48,000 to $59,000 vary, not when it produces its first bounce back above $70,000.
At the time of writing, Bitcoin is trading at $62,891.
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