Bitcoin (BTC) has a new target of $76,000 as the daily chart maintains a bear flag pattern.
Key points:
Bitcoin has received new price targets of $76,000 and $50,000 for the upcoming phase of its significant correction.
According to one trader, the bull market is “over,” citing several bearish divergences.
Bitcoin’s bull market support band provides short-term optimism for the ongoing relief bounce.
Trader on BTC price: “The bull run is done”
In his latest update on Thursday, trader Roman advised X followers to prepare for another 17% drop in BTC’s price.
After recently hitting local lows near $80,000, BTC/USD has faced challenges in rebounding, instead fluctuating within an upward-sloping channel.
This could develop into a traditional bear flag, a relief bounce set against a larger downtrend, leading to new lows.
“Let the decline to 76k commence. Bear divergences plus bearish price movements are showing their impact,” Roman remarked, sharing a chart that included price, volume, RSI, and MACD data.
The commentary highlighted that macroeconomic factors, while bolstering stocks, have had little effect on cryptocurrency price trends. Even decreasing US interest rates aren’t sufficient to suggest relief.
“Bitcoin surged 750% from macro lows,” Roman noted regarding the 2022 bear market bottom at $15,600.
“The bull run is finished. Your best strategy now is to prepare for the next one when we settle around 50k.”
Throughout much of 2025, Roman cautioned about a looming collapse of the bull market, particularly with the RSI delivering bearish signals on extended timeframes.
The bear flag captured attention from the broader crypto trading community, with Ted Pillows comparing it to the price action of 2022.
The parallels between the $BTC current cycle and the previous one are astonishing.
If this unfolds, expect a pump to $100,000 followed by a drop below $70,000. pic.twitter.com/ulJ6yu1uHZ
— Ted (@TedPillows) December 11, 2025
Bitcoin bulls contend to uphold relief bounce
In the short term, some observers noticed slight signs of recovery.
Related: Bitcoin expected to hit 2026 bottom as exchange volumes decline: Analysis
Trader Luca pointed out that the price has now risen above Bitcoin’s bull market support band on the daily chart.
The support band, which consists of the 21-period simple moving average (SMA) and the 20-period exponential moving average (EMA), often acts as a cushion during corrections in a bull market.
“If the price can successfully bounce off this support band, the mid-term outlook could rapidly become bullish again,” Luca shared with X followers on Thursday.
BTC/USD is currently attempting its fourth daily candle close above the support band, as per data from Cointelegraph Markets Pro and TradingView. This would mark its longest stretch above since early October.
This article does not offer investment advice or recommendations. All investment and trading actions carry risk, and readers should perform their own research before making decisions. While we endeavor to provide precise and timely information, Cointelegraph does not assure the accuracy, completeness, or dependability of any details within this article. The article may include forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be accountable for any loss or damage arising from reliance on this information.
This article does not offer investment advice or recommendations. All investment and trading actions carry risk, and readers should perform their own research before making decisions. While we endeavor to provide precise and timely information, Cointelegraph does not assure the accuracy, completeness, or dependability of any details within this article. The article may include forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be accountable for any loss or damage arising from reliance on this information.
