The key level for Bitcoin is $60,000. Holding this level could lead to a rebound toward $65,000, while the first downside target points to the $54,100 CME gap. In extreme cases, it might dip to around $49,000. If the $60,000 support level is lost, it could trigger technical panic, leading to a cascade of leveraged liquidations. The vacuum zone created by the CME gap between futures and spot prices could open up a downside space of over 10%. Trading suggestion: Short on highs. If $60,000 is effectively broken, follow the trend and short to around $55,000!