Ali Charts Says a Bitcoin (BTC) Slip Below $73,000 Would Target $60,000

A Bitcoin (BTC) price slide below $73,000 would put the bottom half of a trading range that has held for close to a year back in play, with the floor near $60,000 as the next area to watch. That is the scenario set out by the crypto analyst known as Ali Charts in posts published on Saturday, November 7. Working from the 3-day chart, he identified $73,000 as the midpoint of the current trading range, the dividing line between its upper and lower halves. Bitcoin (BTC), in his description, has spent nearly the past year moving between $60,000 and $87,000, a band roughly $27,000 wide that has absorbed every rally and every sell-off in that stretch. The consolidation has run well past the most recent Bitcoin Halving in April 2024, giving the range a full cycle of supply events to digest. Range maps of this kind matter to traders because they convert an open-ended market into defined boundaries with observable tests. His framing is conditional rather than a directional bet: as long as price holds above the midpoint, the range itself stays intact and the extremes at either side remain the boundaries that matter. Should the midpoint give way, he flagged the region around $60,000, the range's lower edge, as the section of the chart to examine next. A 3-day chart compresses three days of trading into a single candle, a timeframe used to filter intraday noise and expose the structure of longer trends. On that view the midpoint is not support in the conventional sense; it is a pivot inside a range, and price that drifts below the middle of a range often travels toward the opposite edge. The post attached no deadline to the scenario and stopped short of calling an imminent breakdown.

The same Saturday posts carried a parallel read on Ethereum (ETH), and the mechanics behind it follow the same logic of structure and level. On the daily chart, Ali Charts observed that Ethereum appears to have broken out of an ascending broadening wedge, a formation in which successive swings print higher highs and higher lows while the distance between them widens; once price falls out of such a pattern, it is generally read as a topping structure. The trigger, in his account, is the loss of $2,385 as support on the daily timeframe. If selling pressure continues from that break, he wrote, the pattern points toward $1,963 as the projected level. Ethereum's slide makes it the more stressed of the two major assets in his framework, while the Bitcoin (BTC) call rests on range position alone. The distinction matters for how each scenario would unfold. A range midpoint is a soft reference: price can chop around it for weeks without resolving anything, and the nearly twelve-month band from $60,000 to $87,000 leaves room on both sides. A pattern break, by contrast, arrives with a measured objective attached, which is why the Ethereum projection names a specific target while the Bitcoin scenario describes a zone rather than a number tied to a date. The widening structure he describes forms over weeks, so the projection maps where price would travel if the break confirms, not a forecast for a single session. Both calls were published the same day and rest on chart structure alone; neither cites on-chain flows, derivatives positioning or macro catalysts as inputs, and neither names a specific trigger event. For anyone tracking the level-by-level picture, the same levels are laid out in our running Bitcoin technical analysis.

Where the $60,000 Question Gets Decided

COINOTAG's own reading: the operative line in both posts is $73,000 on the 3-day timeframe, because its loss activates the $60,000 scenario and its defense extends the range. What survives either way is the band itself; the $60,000 to $87,000 range has defined Bitcoin's trade for close to a year, so a close above the midpoint or below it leaves the same outer boundaries standing. The wider backdrop points the same direction: US spot ETF outflows of $869.8 million in four sessions this month and a 30-day correlation with the S&P 500 at 0.80 describe a market trading in bound, risk-off conditions. Sentiment gauges such as the Crypto Fear and Greed Index would confirm any shift in mood only after price does. For participants who HODL through full cycles, the line that separates a range trade from a trend change sits near $60,000, not at the midpoint.