Bitcoin Price Trend Turns Bearish
Bitcoin has slipped into bearish territory, falling below key historical lows that had sustained its rally for a number of months. As of now, the cryptocurrency is trading at $78,560, having dropped to $77,082 within the last 24 hours. This shift indicates a significant change in its technical structure, according to crypto analyst XForceGlobal.
XForceGlobal’s Elliott Wave analysis suggests that this decline below previous all-time lows results from shifts in the dominant wave number.
The analyst explains that Bitcoin operates through a complex lateral structure, specifically a WXY combination, which was anticipated to resolve with dispersion rather than through total decomposition.
Although the bulls completed three out of five elements necessary for a triangle-like formation, their failure to defend the previous low—set in November 2025 at $82,000—signals an impending structural change. This drop below $80,000 in the last day emphasizes their inability to maintain the previous support.
If this support level breaks down further, it can no longer uphold the primary wave count. In terms of counting Elliott Waves, this new lower low suggests that price action since the all-time highs should be seen as a disconnected correction instead of part of a continuing trend. This change in structure allows for further price declines in terms of Fibonacci extensions and complicates the evaluation of minimum and maximum downside targets.
In terms of future price movements, two bearish scenarios have emerged, both leading to similar downside targets. The first scenario depicts a flat correction, with Bitcoin in the midst of a C wave. While XForceGlobal finds this option less favorable, it would invalidate the bullish structure entirely and could see prices drop to around $60,000.
The second scenario is a macro exit diagonal structured as a downward WXY movement. Here, the historic all-time high from October 2025, which is over $126,000, serves as a reference point for better understanding the current price wave. Interestingly, this scenario also aligns with a price target in that $60,000 range. Although the technical approaches differ, both suggest comparable downside risks over the intermediate term.
Given that the larger structure has been breached, XForceGlobal advises adopting a shorter time frame bearish perspective while aligning the next wave count. The expectation is for Bitcoin to continue its decline toward at least $60,000 before eventually rebounding back above $100,000.
