Bitcoin New Year Bear Flag Sparks $76k BTC Price Target Next
Bitcoin price targets included $76,000 and $50,000 thanks to growing bearish BTC price divergences and lack of upward price momentum.
Bitcoin (BTC) has a new $76,000 target as the daily chart continues to print a bear flag pattern.
Bitcoin gets new $76,000 and $50,000 price targets for the next phase of its major correction.
The bull market is “over,” a trader says, noting multiple bearish divergences.
Bitcoin’s bull market support band offers short-term hope for the ongoing relief bounce.
In his latest analysis Thursday, trader Roman told X followers to expect another 17% BTC price drop.
Since its recent local lows near $80,000, BTC/USD has struggled to rebound, instead trading within an upward-sloping channel.
This has the potential to become a classic bear flag — a relief bounce within a broader downtrend, with new lows coming as a result.
“Let the drop to 76k begin. Bear divs + bear price action proving their worth,” Roman commented alongside a chart showing price, volume, relative strength index (RSI) and moving average convergence/divergence (MACD) data.
The post noted that macroeconomic catalysts, while propelling stocks higher, had failed to influence crypto market price action. Even lower US interest rates were no reason to expect relief.
Source: CoinTelegraph
