Bitcoin slipped below a technical support level that had held for 14 years, according to analyst Phila. The breakdown signals potential further downside, with the analyst predicting a drop to $55,000. BTC traded around $77,500 at writing, down over the last day.
14-year support gives way
Phila, an analyst known for calling the $16,000 bottom in 2022 and the top in October 2025, says this is the first time Bitcoin has broken that particular support in its history. He didn't specify the exact level — but the implication is clear: the old floor is now potential resistance.
The move comes as Bitcoin price action mirrors 2021, with a double top formation, lower highs, lower lows, and what Phila describes as a relief rally phase. That pattern historically precedes a more sustained downtrend.
Phila sees $55,000 as next stop
Phila's outlook is unambiguously bearish. He predicts Bitcoin could drop to $55,000 after the breakdown. Many market participants believed the February 2026 low of $60,000 was the ultimate bottom — but Phila disagrees. He considers $50,000 a possible target, suggesting the sell-off may have further to run.
“Many believe the February low was the bottom,” he notes in his analysis. “I think $50,000 is possible.” His track record gives the call weight, though no prediction is guaranteed.
Ali Martinez eyes a make-or-break level
Adding to the technical picture, analyst Ali Martinez identifies $77,800 as a key threshold. If Bitcoin can flip that level back to support, a rally to $79,000 could follow. But if it fails, a retracement to $76,900 or even $76,000 is likely.
At current prices, Bitcoin is right around that $77,800 mark — hovering just below it after the breakdown. The next few hours could determine whether the move is a false breakdown or the start of a deeper slide.
For now, all eyes are on $77,800 — and whether this 14-year support break deepens into something worse.
