Market analyst Roman has identified a bearish flag pattern in Bitcoin's price action, suggesting a potential decline to $76,000, with further downside risk to $50,000. Bitcoin, which recently rebounded from a low of around $80,000, has been unable to break through key resistance levels, indicating a lack of upward momentum. Roman highlights that Bitcoin's 750% surge from its 2022 bear market low of $15,600 may signal the end of the current bull market, advising investors to prepare for future opportunities.
Conversely, trader Luca maintains a more optimistic short-term view, noting that Bitcoin remains above a bullish support zone. If Bitcoin can maintain this support and rebound, the medium-term outlook could shift back to bullish. However, technical indicators like the Relative Strength Index (RSI) are currently showing bearish signals, adding to the mixed sentiment in the market.
Bearish Signals Emerge for Bitcoin, Potential Drop to $76,000
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