Bitcoin’s crash over the weekend brought it down to $60,000 back to the market conversationbut cryptocurrency analyst Merlijn The Trader believes the real opportunity could come at a lower price. Technical analysis comparing Bitcoin’s current structure to the 2022 Wyckoff accumulation phase shows that buying the current bounce would be a costly mistake as the actual accumulation window It hasn’t even opened yet.

Wyckoff Bitcoin setup points under $60,000

To understand where Merlijn The Trader thinks Bitcoin is going, it’s worth understanding where it was headed. Merlijn’s analysis is built around Wyckoff’s accumulation model, using Bitcoin’s 2022 bottom structure as a benchmark.

Returning to this cycle, Bitcoin formed a spring near $15,500, returned to the $23,000 region, where eager buyers rushed in, believing that the worst was over. However, this was not the case. The price action then triggered a secondary wave of sales that crushed behind schedule buyers before the real margin phase began.

The analyst believes that the structure for 2026 develops in a similar way. His chart shows that Bitcoin is currently trading at the same stage where the market previously went through a sign of strength, lost momentum, and later fell into the spring phase. The critical news is that any bounce from the current region may not be the point at which investors should start buying aggressively.

Another critical conclusion from the analysis is that the $60,000 level can be misleading. Bitcoin fell below this level during the recent sell-off and is critical as support because it is close 200-week moving average.

Bitcoin price chart. Source: @MerlijnTrader On

The DCA zone that may be most critical

Merlijn’s Wyckoff setup distinguishes five phases: Phase A stops a downtrend with a selling culmination, Phase B builds cause as institutions gather within the range, Phase C provides a spring that is the final shock below support, Phase D marks within the range with a final support point and a sign of strength, and Phase E is a breakout and an uptrend.

Merlijn’s chart places Bitcoin in this structure in 2026, with the spring phase still ahead of us. The analyst’s forecast is this Spring is coming to $50,000which was followed by a rebound to the $65,000-$70,000 range. He warns that this rebound will again attract bulls who will buy into what appears to be a rebound, the same trap that trapped investors in 2023.

Merlijn places Bitcoin’s dollar-cost averaging zone between $48,000 and $59,000. This range is the part of the chart where better long-term positions are expected to emerge. Therefore, patience is required and the conclusion is that the best time to start buying Bitcoin may be when the fear is strongest in the $48,000 to $59,000 range and not when produces the first bounce again above $70,000.

At the time of writing, Bitcoin is trading at $62,891.