Bitcoin (BTC) has set a new target of $76,000 as the daily chart continues to display a bear flag pattern.
Key points:
Bitcoin targets $76,000 and $50,000 for the next stage of its significant correction.
A trader has declared the bull market is “over,” highlighting various bearish divergences.
Bitcoin’s bull market support band provides temporary optimism for the current relief bounce.
Trader on BTC price: “The bull run is over”
In his latest analysis, trader Roman advised X followers to brace for a further 17% drop in BTC price.
Since hitting recent local lows around $80,000, BTC/USD has struggled to recover, instead moving within an upward-sloping channel.
This might evolve into a typical bear flag—an interim bounce amid a larger downtrend, leading to new lows.
“Let the drop to 76k commence. Bear divergences and bearish price action are proving their significance,” Roman stated alongside a chart showing price, volume, relative strength index (RSI), and moving average convergence/divergence (MACD) data.
He noted that while macroeconomic factors have bolstered stocks, they haven’t impacted crypto market price movements. Even decreased U.S. interest rates have not sparked expectations for relief.
“Bitcoin surged 750% from macro lows,” Roman mentioned regarding the 2022 bear market low at $15,600.
“The bull run is over. Your best option now is to prepare for the next one when we settle around $50k.”
Throughout much of 2025, Roman has cautioned about an impending bull-market downfall, particularly noting bearish signals from the RSI on longer timelines.
The bear flag pattern has not gone unnoticed by the broader crypto trading community, with Ted Pillows drawing parallels to price movements from 2022.
The similarity between the $BTC current cycle and the previous one is astonishing.
If this unfolds, a surge to $100,000 followed by a drop below $70,000 is likely. pic.twitter.com/ulJ6yu1uHZ
— Ted (@TedPillows) December 11, 2025
Bitcoin bulls strive to maintain relief bounce
In the near term, some traders observed slight signs of recovery.
Related: Bitcoin expected to bottom in 2026 as exchange volumes decline: Analysis
Trader Luca noted that on the daily chart, prices have risen above Bitcoin’s bull market support band.
The support band, created from the 21-period simple moving average (SMA) and 20-period exponential moving average (EMA), often acts as a safety net during bull market corrections.
“If the price can manage to bounce off this support band, then the mid-term outlook will turn decisively bullish again,” Luca informed X followers Thursday.
BTC/USD is currently aiming for its fourth daily candle close above the support band, according to data from Cointelegraph Markets Pro and TradingView. This would mark its longest duration above since early October.
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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
