Bearish flag on the Bitcoin chart indicates another downward breakout - target at 76,000 USD

Bitcoin is under bearish pressure. Recent technical analyses show a clear signal in the form of a bear flag formation on the daily timeframe, which has historically preceded significant price corrections. Considering the current market conditions and the momentum of BTC price — currently at 90.66K USD — the market appears to be preparing for a consolidation phase before the next decline.

Bearish Forecasts: Bear flag with targets at 76k and 50k

According to observations by experienced analysts, Bitcoin has two key price levels where we can expect a correction. The first target is 76,000 dollars, and the second is 50,000 dollars — significant support levels from previous market cycles.

The situation looks as follows: from local highs around 80,000 dollars, the BTC/USD rate is struggling to break higher resistance levels. Instead, the price is moving within a channel approaching a bear flag pattern — a classic signal of correction within a broader downtrend.

One market analyst noted on platform X: “Bear divergences and bearish price behavior are showing their value. A drop to 76k should begin.” His analysis also included indicators such as RSI and MACD, whose signals indeed confirm a bearish sentiment.

“The bull run has ended” — long-term perspective

Another trader made an interesting observation, stating that “the bull market is over.” The argument for this view is based on macroeconomic conditions — despite stock markets being driven by economic data and lower interest rates, the crypto market does not reflect this euphoria.

Bitcoin has already increased by 750% since the 2022 bear bottom, when BTC hovered around 15,600 dollars. This massive appreciation suggests that pressure for consolidation and correction is becoming natural. The best strategy in such a scenario is to prepare for the next growth cycle, which may develop only around 50,000 dollars.

A market observer also compared the current scenario to BTC price behaviors in 2022, pointing out startling similarities. The scenario emerging from this analysis suggests an increase toward 100,000 dollars, followed by a drop below 70,000 dollars.

Short-term hope: Bullish support band holds

While the medium-term outlook appears bearish, short-term indicators show an interesting picture. The BTC/USD price on the daily timeframe is currently above the bullish support band, which is formed based on the 21-period simple moving average (SMA) and the 20-period exponential moving average (EMA).

This band acts as a safety net during corrections within a bull market. Bitcoin is currently attempting to close the fourth consecutive candle above this support band — this would be the longest such period since early October. If the rebound from this support succeeds, the medium-term prospects could regain a bullish tone.

However, considering the prevailing bearish divergences and the bear flag formation on the charts, such a scenario seems to be only a short-term relief before another decline toward the previously mentioned price targets.