Bitcoin price threatens to drop to $61.600

Bitcoin is trading around $63.000 on 16 August 2026, and analyst CrypNuevo expects the price to fall further this week. According to his analysis, there is a built-up liquidity zone below the recent local low of $62.100 that could draw the price to around $61.600. At the same time, he points to an untouched liquidity zone above the current price, around $65.700 to $66.000, which could still be targeted later.

Bitcoin is available at OKX and Bybit.

In brief:

• CrypNuevo expects a decline to $61.600 due to liquidity below the local low.
• Above the current price there is an untouched liquidity zone around $65.700 to $66.000.
• On the bigger picture, the analyst sees a possible retest of the bottom before any potential recovery.

Liquidity below the double bottom pulls the price down

In a series of tweets, CrypNuevo sets out his expectations for Bitcoin in the week of 16 August. The analyst points to a concentrated liquidity zone just below the local double bottom. The recent local low is around $62.100, but the accumulated liquidity extends to around $61.600, some $500 lower.

The liquidation heatmap he shares shows a clear accumulation of liquidity below that local low. At the same time, the liquidity zone above the current price is actually growing further, because the price turned around earlier before that zone was touched.

Last week, CrypNuevo already predicted that the price could return to that overhead liquidity zone around $65.700 to $66.000. The price, however, turned around without touching that zone first. His explanation: the market is deliberately building up more liquidity there, so that it can be swept more efficiently later.

Bigger picture: retest of the bottom still pending

In addition to the short-term expectation, CrypNuevo also points to a pattern he outlined two months ago. On the daily timeframe, he sees indications that Bitcoin still needs a third test of the larger bottom zone, a so-called retest of the lows level.

According to the analyst, the two consecutive bottoms in quick succession were part of the same deviation move within a larger range. He argues that the expected retest of the lows must still take place before a potential recovery towards the top of the range becomes realistic. He stresses that this is his personal analysis and expectation, not a certainty.