Bitcoin Bear Flag Formation? Analysts Predict Drop to $50,000, but Traders Have Different Views

Question

【Chain News】Bitcoin's recent price movements have attracted the attention of many analysts. From a technical perspective, the market has formed a clear bearish flag pattern. Analyst Roman's downside target is $76,000, and in more extreme cases, it could even reach the $50,000 level.Looking at the rebound, Bitcoin indeed bounced back after hitting a bottom around $80,000, but its performance within the upward channel has not been ideal, and it has failed to break through key resistance levels effectively. This indicates insufficient market momentum and a lack of strong buying support. Roman believes that this bull market may be nearing its end. He compared it to data from 2022: at that time, Bitcoin rebounded 750% from a bear bottom of $15,600, but the current rally is not as explosive as that bull run. Technical indicators like RSI on longer timeframes also show bearish signals, further confirming his outlook.However, there are alternative opinions. Trader Luca has a more optimistic view, believing that Bitcoin still has short-term upside potential. He points out that the price remains above the bull support band, and as long as this support holds and a successful rebound occurs, the medium-term trend could shift back to bullish expectations.

RektButStillHere · Accepted Answer

The bull flag goes up and down, but I definitely won't sell; I'm holding firm even if it drops to 50,000.

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Roman is shouting short again. Last year around this time, he couldn't predict anything. Now suddenly he's been right? If I believe you, it would be a miracle.

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50,000? That's hilarious. Isn't that an opportunity to buy the dip? Let's see who regrets it later.

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I really missed that 750% rally. Now I definitely won't cut losses; just wait patiently for a turnaround.

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Oh no, the technicals are broken, why am I still looking at RSI? That thing is just a decoration.

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What's Luca's opinion? Did he start teasing before finishing the article?

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Bottoming at 80,000 and now unable to break resistance means nobody wants it? I think the real FOMO has not yet arrived.

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Whether it's a bear or bull market, I won't sell. Resting and lying flat is the best.

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Every time they say it's the end of the bull market; this script has been played out dozens of times. Can't we have some novelty?

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When it drops, they analyze it like this; when it rises, this guy disappears. Typical hindsight trader.

GasFeeCrying · Answer

Here comes the bear flag again, tired of hearing about it... Roman's chart theory was used last year already.

Roman is starting to tell stories again, saying a rise less explosive than 2022 means the bull market is over? Nonsense.

Would such an extreme situation like 50,000 really happen? Feels like just grabbing attention.

Wait, what did Luca say? Why is the article cut off?

These analysts keep changing their predictions every day, does anyone really believe them?

Resistance levels are resistance levels, and they keep bringing up lack of momentum... maybe they’re just accumulating shares.

RSI is red again? Why wasn’t it like this the last time I checked? The cycle difference is too big, it’s meaningless.

Roman’s 2022 comparison doesn’t really hold, the market environment is completely different.

Could this be another contrarian indicator? It’s always like this.

ShadowStaker · Answer

bear flag thesis again? honestly the buy pressure metrics just don't stack up here... validator dynamics are getting gnarly too

AirdropHarvester · Answer

Another claim of 50,000 again. I heard this last year. Why hasn't it dropped yet?

AirdropBlackHole · Answer

50,000? You must be dreaming, sounds so real.

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Roman is starting to tell stories again. Are these data benchmarks interesting?

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Bull flags, bearish signals... tired of hearing them, wait for the drop to confirm.

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Insufficient buying support? I still see the market quite active.

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It's always like this, predictions flying everywhere, and in the end, they all get proven wrong.

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50,000 is too harsh. I bet 7.8K won't break.

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RSI is sending signals again, the indicator folks are at it again haha.

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Bull market end? You analysts really know how to pick the right timing to speak.

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The papers are well written, but the market never follows predictions.