Bitcoin Price Breakout Scenarios – $140K Or $60K?

Bitcoin’s price movement has traders eyeing two opposing scenarios—either a breakout toward $140,000 or a deeper correction to $60,000.

Analysts highlight critical levels that could determine the next major move.

Bitcoin Price Must Break $95K to Stay Bullish

Crypto analyst Big Mike sees a clear roadmap for Bitcoin’s price trajectory.

In a newly published Elliott Wave chart, he outlines two potential outcomes. One is a surge past $95,000 that could push BTC to $140,000

Another route is a dip to $72,895 before resuming an uptrend.

Bitcoin targets $150K? Elliott Wave analysis suggests bullish breakout. Source: Big Mike/X

His analysis builds on multiple Fibonacci extension targets, moving averages, and a five-wave impulse structure.

According to his chart, Bitcoin’s corrective phase near $85,000–$95,000 has created a consolidation zone.

A confirmed breakout above this range would mark the start of a bullish wave targeting $114,693, with a final leg potentially reaching $150,000.

Big Mike emphasizes key levels:

“BTC above $95K will trigger the move quickly towards my target of $130K—$140K. Below $78K, we test $72K, then run to $140K.”

Analyst Warns of $60K Breakdown If Resistance Holds

Not all analysts share the bullish sentiment. TradingView analyst Alixjey predicts that Bitcoin could crash as low as $63,000 if it fails to break past $99,500.

BTC sets for sharp decline toward $60,000 | Source: Alixjey on Tradingview

He notes that Bitcoin’s latest drop below $90,000 surprised many traders expecting a continued rally.

If resistance between $94,000 and $98,000 holds, he expects BTC to decline sharply.

The last time Bitcoin traded in the $60,000 range was after the launch of spot Bitcoin ETFs in early 2024.

Alixjey labels this potential downturn as a “last chance” for investors to accumulate BTC at lower levels. He stated,

“If Bitcoin fails to break resistance, we could see a steep pullback.”

Trump’s Bitcoin Reserve Plan Sparks Market Uncertainty

Adding to the volatility, President Donald Trump’s executive order establishing a U.S. strategic Bitcoin reserve has triggered mixed reactions.

According to Farside Investors, Bitcoin ETFs saw $370 million in net outflows on March 7 as institutional traders reacted to the news.

Bitcoin ETF flows show volatility amid market fluctuations. Source: Farside

The order doesn’t require new Bitcoin purchases but allows budget-neutral acquisitions using seized assets.

This disappointed the market, with Wanchain CEO Temujin Louie saying it fell short of expectations.

Despite the sell-off, some see the order as a long-term bullish signal. Bitwise research head Ryan Rasmussen noted,

“The U.S. reserve means other countries will buy Bitcoin… financial institutions have no excuse.”

Bitcoin’s current range between $72,000 and $95,000 remains critical.

Analysts remain divided on whether BTC is on the verge of a rally or a major correction.

With key liquidity levels yet to be tested, all eyes are on whether Bitcoin can reclaim $95,000 or risk a plunge toward $60,000.

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