- Armstrong says Bitcoin probably bottomed at $60K and expects significantly higher prices by 2030.
- Analyst flags $66,100 to $66,300 as major resistance that could mark the top of the current retrace.
- A rejection at the $66,300 could trigger a deeper pullback toward $60,000 and potentially $56,300.
Coinbase CEO Brian Armstrong said he believes Bitcoin has probably bottomed around the $60,000 level, describing himself as bullish on the asset’s long-term trajectory and expressing confidence that prices will be significantly higher by 2030.
“I think Bitcoin is the new digital gold. It’s going to be a key part of our economy going forward. My instinct is we’ve probably bottomed at this point, maybe at the $60,000 number, but nobody can say for sure,” Armstrong said.
Armstrong acknowledged the four-year cycle pattern that has historically defined Bitcoin’s price behavior, saying that the percentage of holders in profit versus loss has often served as a useful sentiment indicator at major turning points. He described himself as personally long Bitcoin and optimistic heading into the remainder of the decade.
The Technical Concern
Despite the optimism from Armstrong and the boost from the US-Iran peace deal that pushed Bitcoin back above $65,000 over the weekend, one analyst is flagging a critical resistance level that could halt the recovery in the near term.
Analyst Tara identified $66,100 to $66,300 as a major resistance zone where Bitcoin is fast approaching. The level aligns with a specific wave structure that hints the current move could represent the final push of a corrective rally rather than the beginning of a sustained recovery.
“Very strong impulse just printed but did not affect the higher timeframe structure. This could mark the top of this retrace,” the analyst said.
The Downside Scenario
If Bitcoin reaches $66,300 and fails to break through convincingly, Tara is watching for a pullback that could take prices back down to $60,000 and potentially through that level toward a target of approximately $56,300.
The analyst said the current high would serve as the reference point for measuring any downside extension if the rejection scenario plays out.
Related: Bitcoin Touches 50-Month MA Again, Analyst Sees Bottom Signal
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