How low will Bitcoin fall if $60,000 support breaks?

Bitcoin is headed for its worst weekly performance since November 2022, down about 15% week-to-date. The pair traded near $62,500 after briefly dipping toward $61,000 and rebounding by roughly $1,500 as bulls tried to defend the psychological $60,000 level. The 200-week simple moving average sits near $61,800 and has historically acted as major cycle support.

Analyst Radz says a brief wick below $60,000 could occur before stronger demand appears, and that $55,000 would be the “worst” downside if the 200-week SMA continues to hold. Past retests of that moving average preceded significant recoveries; in February 2026 Bitcoin rose more than 37% after testing it as support.

A maturing bear flag has already broken its lower trend line, with rising volume underscoring the move, and projects a measured target near $50,000–$51,000.

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