Bitcoin's ‘bear Flag Pattern’ Targets $67k As BTC Spot Demand Slumps

The absence of new buyers and weakening ETF demand are factors likely to keep the Bitcoin price pinned below $93,000 as a bear flag targets $67,000.

Bitcoin (BTC) price action has painted bearish continuation patterns on its daily chart, which may propel BTC to new lows, according to analysts.

A sharp decline in spot buying and weakening ETF demand suggests that the upside may be limited.

Bitcoin’s bear flag pattern on the daily time frame targets $67,000 BTC price.

The BTC/USD pair has formed a bear flag on the daily chart, as shown in the figure below. This bear flag formed following Bitcoin’s drop from $107,000 highs on Nov. 11, and the recent rebound was rejected from the flag’s upper boundary around $93,000.

Related: Bitcoin retail inflows to Binance ‘collapse’ to 400 BTC record low in 2025

A daily candlestick close below the flag’s lower boundary at $90,000 may open the way for a drop toward the measured target of the pattern at $67,380, or around the 2021 price top. This would represent a 25% drop from the current price.

“Indicators (MACD and RSI) were extremely oversold, and this movement allows them to cool off so we can continue our downtrend,” said trader Roman in a Tuesday post on X, referring to Bitcoin’s consolidation inside the flag.

Pseudonymous analyst Colin Talks Crypto said that although a move down would be the expected outcome from the flag’s validation, the $74,000-$77,000 zone “would be the likeliest bottom,” adding:

Meanwhile, crypto trader Aaron Dishner said that BTC price is likely to revisit $92,200, then near $98,000 under the upper bear flag line, before continuing the downtrend.

Source: CoinTelegraph