$BTC Opinion: BTC failed to rebound after approaching a low near $80,000, potentially becoming a bear flag pattern
AI Summary
According to Cointelegraph, the recent target price for Bitcoin (BTC) is $76,000 and $50,000. Trader Roman stated that the bull market has ended, and BTC's price is expected to drop another 17%. BTC/USD failed to rebound after approaching a low near $80,000, forming an upward channel that could become a classic bear flag pattern.
Roman noted that macroeconomic factors have failed to impact the cryptocurrency market prices, and even a decline in U.S. interest rates did not bring relief. He believes that Bitcoin has risen 750% from its low of $15,600 in 2022 and suggests preparing for the next bull market.
Trader Luca observed that the BTC price has risen above the bullish support zone. If it can bounce back from there, the medium-term outlook will be bullish again. BTC/USD is attempting its fourth daily close above the support zone, which would be the longest stretch since early October.$BTC
