Bitcoin has a new $76,000 target as the daily chart continues to print a bear flag pattern.
Key points:
- Bitcoin has picked up new corrective price targets at $76K and $50K.
- A trader claims the bull market has ended, pointing to a series of bearish divergences.
- Even so, the bull market support band may offer limited support for the ongoing relief rally.
Trader says the Bitcoin bull run is finished
In a fresh analysis published Thursday, trader Roman warned his X followers to brace for another 17% drop in the BTC price.
Following its recent local lows near $80,000, BTC/USD has failed to stage a meaningful rebound, instead drifting within an upward-sloping channel. Roman cautions that this structure could develop into a classic bear flag—a temporary relief bounce inside a larger downtrend that typically leads to new lows.
“Let the drop to 76K begin. Bear divs + bear price action proving their worth,” he wrote, sharing a chart featuring price, volume, RSI and MACD indicators.
Roman added that macroeconomic tailwinds—despite lifting equities—have had little impact on crypto price action. Even prospects of lower U.S. interest rates don’t provide a compelling reason for a Bitcoin recovery.
“Bitcoin went up 750% from macro lows,” he noted, referring to the 2022 bear market bottom at $15,600.
“The bull run is over. Your best option now is to plan for the next one when we land around 50k.”
Throughout much of 2025, Roman repeatedly cautioned that a bull market breakdown was coming, citing persistent bearish signals in the long-term RSI.
The emerging bear flag has also caught the attention of other traders. Analyst Ted Pillows compared the current structure to the price action seen in 2022.
Bitcoin bulls are working to maintain the recent relief rally
In the near term, some analysts see subtle signs of improvement.
Trader Luca pointed out that on the daily chart, Bitcoin’s price has moved back above the bull market support band.
Built from the 21-period simple moving average (SMA) and the 20-period exponential moving average (EMA), the support band often acts as a safety net during bull-market pullbacks.
“If price can successfully rebound from this zone, the medium-term outlook will turn decisively bullish again,” Luca told his X followers on Thursday.
BTC/USD is now pushing for a fourth consecutive daily close above the support band, according to data from Cointelegraph Markets Pro and TradingView — its longest stretch above the zone since early October.
