Bitcoin has recently been lacking upward momentum, with a clear bear flag pattern emerging on the technical side, triggering market concerns about the next target price level. Several traders believe that Bitcoin’s short-term risks are rapidly accumulating; if it breaks below key support, a deeper correction could be triggered, with target prices pointing to $76,000 and even extending to the $50,000 area.
Trader Roman emphasized in his latest analysis that Bitcoin faces an approximately 17% potential downside. He pointed out that since Bitcoin touched lows near $80,000, the price has failed to rebound effectively and has been oscillating within an upward channel, a pattern that can easily evolve into a bear flag. Under this pattern, Bitcoin may experience a brief rebound before continuing to set new lows.
Roman stated that although macroeconomic catalysts have boosted the stock market, these favorable factors have not spread to the cryptocurrency market, and even if the Federal Reserve cuts interest rates further, it will be difficult to immediately change the current weakness. He even bluntly said, “The bull market is over. The best option now is to prepare for the next bull run, and Bitcoin may ultimately fall to $50,000.”
Meanwhile, the RSI on higher timeframes continues to show bearish divergence, intensifying the technical signals of a bear trend. Other traders, such as Ted Pillows, have also compared the current pattern to the downtrend cycle of 2022, warning the market to remain cautious.
However, some voices in the market remain relatively optimistic. Trader Luca noted that Bitcoin is attempting to hold the daily support zone (the 21-day SMA and 20-day EMA). If the price can sustain closes above this support zone and gain rebound momentum, the medium-term bullish structure may still remain intact.
According to Cointelegraph Markets Pro and TradingView data, BTC has closed above the support zone for several consecutive days, marking the longest high-level stay since October, indicating that the bulls are working hard to maintain the situation.
Overall, Bitcoin is at a critical turning point. If the bear flag pattern is confirmed, the downside target is clearly directed at the $76,000 and $50,000 ranges; if support holds successfully, there is still a chance to resume the medium-term upward trend. Investors should closely monitor key price levels and technical indicator changes to judge the next market direction.
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