Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are both flashing bearish structure signals as analysts warn $60,000 and $1,686 are the next targets if key support levels fail.
What Analysts Are Saying About Bitcoin
Van de Poppe: $60,000 Is the Last Line
Analyst Michaël van de Poppe said on X that a $38 million Coldcard hardware wallet drain hit markets Thursday, pulling Bitcoin below key moving averages.
He said the structure remains barely intact above the 21-day and 50-day moving averages, with $60,000 to $61,000 as the last meaningful support if those levels break.
“If this doesn’t hold, there’s one support level left: $60,000 to $61,000 and that’s where we need to find buyers otherwise new lows are imminent,” van de Poppe wrote, adding that Nasdaq strength could pull Bitcoin back after the US open.
TraderMorin: Lower Low, Lower High — Structure Is Broken
Analyst TraderMorin confirmed the structural breakdown on X, noting Bitcoin formed a lower low Tuesday followed by a lower high overnight.
He said the next logical target is the swing lows accumulated around $61,300 to $61,800.
Raoul Pal: This Is Liquidity, Not a Breakdown
Raoul Pal offered the counter view, saying Bitcoin is 87% correlated to global liquidity and the current weakness reflects liquidity conditions rather than any fundamental problem.
“Nothing is broken. It’s doing exactly what it always does,” Pal wrote.
BTC Key Levels — July 31, 2026
| Type | Price | Why It Matters |
| Resistance | $67,405 | 100-day EMA — next hurdle |
| Resistance | $64,844 | 50-day EMA |
| Support | $64,236 | 20-day EMA — first floor |
| Support | $61,300 to $61,800 | Swing low zone — TraderMorin’s target |
| Support | $60,000 to $61,000 | Major demand zone — van de Poppe’s last support |
| Last Floor | $58,000 | June low — new lows territory below |
What Analysts Are Saying About Ethereum
Cold Blooded Shiller: Bearish Divergence Is Getting Very Clear
Analyst Cold Blooded Shiller said on X that bearish divergence on ETH is getting very clear and the chart needs significant work to stop a rollover.
He sees $2,000 as a potential liquidity sweep target before the price falls toward roughly $1,686.
“Going to take a lot of work to stop this from rolling over,” he wrote. “$2,000 looks such an attractive level to at least get a sweep, perhaps the weakness in even being able to achieve that target is telling,” he added.
Ali Martinez: TD Sequential Sell Signal Is Live
Analyst Ali Martinez flagged a TD Sequential sell signal on X, noting the same indicator flashed a buy near $1,500 ahead of a 31.5% rally.
With ETH now trading around $1,980 at the time of his post, he said it may be time to lock in profits.
Aria Naka: Three On-Chain Signals Pointing the Same Way
On-chain analyst Aria Naka flagged three data points simultaneously.
Stablecoin liquidity on Binance fell 518% week-over-week, the Coinbase (NASDAQ:COIN) premium index slipped to negative 0.12, and large-holder exchange activity is trending lower across all timeframes.
She said the combination resembles prior consolidation phases before a directional resolution — not a confirmed breakdown, but not a healthy setup either.
ETH Key Levels — July 31, 2026
| Type | Price | Why It Matters |
| Resistance | $1,930 | 100-day EMA — next hurdle |
| Resistance | $1,848 | 50-day EMA |
| Support | $1,872 | 20-day EMA — first floor |
| Downside Target | $1,686 | Cold Blooded Shiller’s target if $2,000 sweep fails to hold |
| Last Floor | $1,506 | June low — absolute floor |
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