Opinion: Bitcoin tests key resistance level for the third time in half a year, failure may lead to a drop below $60,000

ChainCatcher reports, according to analyst Alicharts, Bitcoin is currently at a critical point for a trend reversal. Bitcoin is testing the resistance of the 100-day Simple Moving Average (SMA) for the third time in six months. The previous two attempts both failed: in October last year, Bitcoin was rejected, resulting in a drop from $116,000 down 30% to $80,000. In January, Bitcoin was again rejected, leading to a decline from $97,000 down 39% to $59,800.

Alicharts warns that a third rejection here would be a significant structural failure. It could trigger the triple-top effect, potentially pushing the Bitcoin price back to the yearly low of $59,800. If BTC is ultimately able to break through this barrier and close above the 100-day SMA, the ceiling will be broken. A breakout here would open a direct path toward $80,000 – $84,000, confirming that the macro correction may have ended.