Bitcoin's weekend crash has brought the $60,000 level back into the spotlight — but one analyst says the real accumulation window hasn't opened yet. Merlijn The Trader warns that buying the current bounce is a mistake, and that the actual entry zone sits lower.
Bitcoin is trading at $62,891 as of this writing, still above the psychologically important level. But the analyst's Wyckoff-based chart suggests the spring phase — the classic shakeout before a major rally — is still ahead, not behind us.
Why $60K Is Misleading
According to the analyst, the $60,000 level looks like support but isn't reliable. It's close to the 200-week moving average, which makes it a natural magnet, but the Wyckoff setup points below that. "Buying the current bounce would be a costly mistake," the analyst wrote, comparing the current structure to the 2022 accumulation phase that saw a spring around $15,500 before the real markup.
The Wyckoff Roadmap
Merlijn The Trader identifies five distinct phases: A (stop downtrend), B (accumulation), C (spring), D (markup within range), and E (breakout/uptrend). Bitcoin in 2026, on this framework, is still in phase B or early C — with the spring yet to come. The projected path: a drop to $50,000, a bounce rally to $65,000–$70,000 that lures bulls into a trap similar to 2023, and then a final selling wave before the real uptrend begins.
Where to Start Buying
The recommended dollar-cost averaging zone is between $48,000 and $59,000. That's where the analyst expects better long-term entries. Above that range, the risk of buying into a fakeout is too high. The current price of $62,891 sits outside that zone, reinforcing the caution.
The Spring Ahead
If history repeats — and Wyckoff analysts tend to bet on pattern recurrence — the next few weeks could see Bitcoin slide through $60,000 and test lower levels. The analyst's chart places the spring phase clearly in the future. For now, the message is simple: don't chase the bounce. The real buying opportunity is lower.
