Bitcoin's recent price action has traders eyeing a potential "bear flag" pattern, sparking debate about a possible dip towards $67,000, while some analysts maintain a bullish outlook with targets as high as $76,000.
Bear Flag Formation and Potential Downside
Several analysts have pointed out a bear flag formation on Bitcoin's daily chart. This pattern, which typically follows a sharp decline, suggests a potential continuation of the downtrend. The bear flag formed after Bitcoin dropped from its November highs around $107,000, and a recent rebound was rejected near $93,000. A daily close below the flag's lower boundary, around $90,000, could trigger a drop towards the pattern's target of $67,380. This target aligns with the 2021 price top. Trader Roman noted that indicators like MACD and RSI were extremely oversold, suggesting a need for consolidation before a continued downtrend.
Aksel Kiber, CMT, noted that Bitcoin's volatility has slumped near $90K, raising concerns of a bear flag price pattern. The on-chain data indicates that the drop in Bitcoin's volatility has triggered speculations among the market participants.
Conflicting Views and Potential Rebound
Despite the bearish signals, some analysts anticipate a potential rebound. Pseudonymous analyst Colin Talks Crypto suggested that the $74,000-$77,000 zone would be a likely bottom, anticipating a powerful rebound if that level is reached. Crypto trader Aaron Dishner suggested that Bitcoin could revisit $92,200 and then $98,000 before continuing any downtrend.
Other analysts suggest that key support zones between $80,000 and $82,000, with deeper support at $76,000, may help stabilize BTC and provide a foundation for upward momentum.
Technical Indicators and Market Sentiment
Technical indicators present a mixed picture. Some sources indicate bearish signals in Bitcoin's four-hour chart, with the 50-day moving average sloping down, suggesting a weakening short-term trend. The 200-day moving average has also been falling since early December 2025, indicating a weak longer-term trend. However, on the weekly timeframe, Bitcoin appears bullish.
The Fear & Greed Index is displaying a score of 29, indicating fear in the market. Over the last 30 days, Bitcoin has had 40% green days and 5.24% price volatility.
Potential for a Bullish Correction
Despite the current bearish sentiment, some analysts foresee a potential bullish correction. FOREX24.PRO anticipates an attempt at a bullish correction, testing resistance near $95,275. Moving averages indicate a short-term bullish trend, with prices breaking above signal lines.
Long-Term Outlook
Long-term predictions for Bitcoin remain largely positive. Some analysts expect Bitcoin to head towards the $120,000 - $130,000 range by late 2025 if macroeconomic conditions remain favorable. Factors such as ETF inflows, regulatory clarity, and macroeconomic conditions are expected to drive Bitcoin's price.
One analysis suggests a potential 22-23% rise, targeting $111,500 by December 2025, driven by improving investor sentiment, macroeconomic support, and supply limitations. Another source projects Bitcoin's value to increase by 5%, potentially reaching $92,936.58 in the next 30 days.
Key Levels to Watch
Immediate resistance is noted at yesterday's high of $92,216, followed by the upper bear flag line near $98,000. Support resides around $86,000–$87,000. A decisive breakdown below $85,000 could lead to a slide towards $76,000.
