Gold vs. Bitcoin: BTC Price Tests $60,000 as Bear Flag Pressure Builds

Bitcoin (BTC) price continues to trade lower towards the major support of $60,000. The price action in Bitcoin remains bearish and supported by the formation of bear flag patterns. But the Bitcoin to gold ratio remains above the key level of 13 due to the weakness in gold (XAU) prices. This keeps the door open for the possibility of a bottom in Bitcoin. This article presents the key levels in the Bitcoin market and the ratio signals that may impact the next move in Bitcoin.

Bitcoin Breaks Bear Flag as $60,000 Support Comes Into Focus

The Bitcoin price has formed a strong bearish price pattern after forming a peak in October 2025 at $126,296. This bearish price action is seen by the multiple bear flag patterns that were broken in January 2026 and June 2026. This breakout has triggered a strong drop in Bitcoin prices toward the $60,000 area. After breaking the second bear flag pattern in June 2026 at $72,300, the price is consolidating between $65,000 and $60,000 and is poised to drop further.

A break below $60,000 will likely push Bitcoin prices toward $50,000. A strong recovery above $67,000 will likely push Bitcoin prices toward $72,000 again. To ease this bearish pressure, Bitcoin prices must break above $85,000 to confirm a meaningful bottom.

Bitcoin 200-Week SMA Highlights Major Support Zone

The importance of current levels is validated using the long-term ascending channel pattern that has formed since 2017. The price has also formed the cup pattern within this development, and now the price approaches the 200-week SMA. This highlights the importance of this support level.

However, the RSI has already breached below the midline and retested during the rebound from current levels. This indicates bearish pressure in Bitcoin prices. This bearish setup indicates the likelihood of further downside in Bitcoin market. However, the $35,000 to $40,000 area in the Bitcoin market remains the strong support seen by the ascending channel pattern.

This strong support is also highlighted by the ascending broadening wedge pattern, which emerged from the December 2022 lows. The price has already formed the cup pattern, and the price is showing bearish pressure below $100,000. But the price is now weakening around this $50,000 to $60,000 support zone. This key level will likely define the next move. A break above $85,000 will likely push Bitcoin further higher. However, as long as Bitcoin remains below $70,000, prices may face bearish pressure.

Bitcoin to Gold Ratio Holds Key 13 Support Level

Despite the strong drop in Bitcoin prices, the Bitcoin-to-gold ratio is hovering above the important support level of 13 as discussed in previous articles. As long as the Bitcoin-to-gold ratio remains above the 13 level, the possibility of Bitcoin forming a bottom is high. The stabilization of the Bitcoin-to-gold ratio above 13 is due to the current weakness in the gold market which is dropping below $4,000.

As long as gold prices also continue to drop along with Bitcoin, the ratio may stabilize above the 13 level. However, if the Bitcoin-to-gold ratio breaks the 13 level and moves toward the next support level of 9, it will likely trigger another drop in Bitcoin prices toward the $35,000 to $40,000 area.

This scenario may develop if gold prices form a bottom around the $3,900 to $4,000 area and rebound strongly while Bitcoin prices remain strong around $60,000. The important support in the Bitcoin-to-gold ratio is also highlighted on the long-term chart, which shows that the ratio is consolidating around the support of the ascending channel pattern.

What is Next for Bitcoin?

Bitcoin prices remain under bearish pressure and trade at the $60,000 support level. A break below $60,000 will indicate further downside to $50,000. A break below $50,000 will indicate a drop to the long-term support level of the $35,000 to $40,000 area. Both markets show bearish pressure in the short term, but if the bitcoin-to-gold ratio remains above the 13 level, then the possibility of a bottom formation in Bitcoin will increase.

Bitcoin is required to close above the $85,000 to ease the bearish pressure and continue upside. On the other hand, the gold prices must break above $4,350 to ease the bearish pressure. Traders will continue to monitor the $60,000 level as the bottom line for recovery.

Read more: Gold Outperforms as BTC Tests Long-Term Support