Bitcoin’s New Year Bear Flag Indicates $76K Price Target Ahead

Summary: Bitcoin has established new price targets of $76,000 and $50,000 as it enters a significant correction phase. A trader has declared that the bull market has ended, supported by various indicators of bearish momentum. However, the bull market support band offers some short-term optimism for a potential relief bounce.

Key Takeaways

Bitcoin is facing new price targets of $76,000 and $50,000 amid major corrections.
A trader claims the bull market is “over,” citing several bearish divergences.
The BTC bull market support band provides some hope for a respite in the current downtrend.

Bitcoin’s New Year Bear Flag Indicates $76K Price Target Ahead

The Diverging BTC Market: A Bearish Outlook

In a recent analysis, trader Roman warned his followers on X to brace for another potential 17% decline in Bitcoin's price. After hitting local lows around $80,000, Bitcoin (BTC/USD) has struggled to gain momentum, moving within an upward-sloping channel. This pattern could signal the formation of a classic bear flag—essentially a brief rally in the context of a larger downtrend, likely leading to new lows.

“Let the drop to $76K begin. Bear divergences and bear price actions are proving their significance,” Roman stated, sharing a chart that includes pricing, volume, relative strength index (RSI), and moving average convergence/divergence (MACD) metrics. He pointed out that while macroeconomic factors have been uplifting stocks, they haven't had the same positive effect on the cryptocurrency market. Even decreased US interest rates do not justify expectations for Bitcoin to rebound. Roman highlighted that Bitcoin surged by 750% from its 2022 bear market bottom, which stood at $15,600.

BTC/USD One-Day Chart. Source: Roman/X

Throughout much of 2025, Roman has been predicting an imminent collapse of the bull market, particularly highlighting bearish signals in the RSI over longer timeframes. This bear flag formation has not gone unnoticed in the broader crypto trading community; trader Ted Pillows made comparisons to the 2022 price actions.

“The similarities between the current $BTC cycle and the previous one are remarkable. If this plays out, we could see a rise to $100,000 followed by a drop below $70,000,” Pillows tweeted.

Sustaining the Relief Bounce: Bitcoin Bulls’ Efforts

Despite the prevailing bearish outlook, some traders are observing slight signs of improvement in the short term. Trader Luca mentioned that Bitcoin's price is currently above the bull market support band on the daily chart.

BTC/USD One-Day Chart With Support Band
BTC/USD One-Day Chart. Source: Luca/X

The bull market support band is typically made up of a 21-period simple moving average (SMA) and a 20-period exponential moving average (EMA). This band often acts as a protective barrier during corrections in bull markets. “If Bitcoin can maintain its position above this support band, the mid-term outlook may turn notably bullish once again,” Luca communicated to his followers on X. As it stands, BTC/USD is trying for its fourth consecutive daily candle close above the support band, according to data from Cointelegraph Markets Pro and TradingView. This would mark its longest stretch above this critical level since early October.

BTC/USD One-Day Chart with Bull Market Support Band. Source: Cointelegraph/TradingView

As traders continue to analyze Bitcoin's movements, the balance between bearish warnings and potential short-term gains remains crucial in understanding the cryptocurrency's future trajectory.