Analysis: Bear market signals emerge, Bitcoin is expected to drop to $76,000

According to market analyst Roman, Bitcoin's current trend is forming a bearish flag pattern, with a target price of $76,000, and it could even drop to $50,000.

After rebounding from a recent low of around $80,000, Bitcoin's price has been fluctuating within an ascending channel but has failed to break through key resistance, indicating a lack of upward momentum in the market. Roman pointed out that Bitcoin surged 750% from the bear market bottom of $15,600 in 2022, and the current bull market may have ended, suggesting that investors prepare for the next bull market. He also noted that technical indicators such as the Relative Strength Index (RSI) are signaling bearish trends in the long term.

On the other hand, trader Luca believes that Bitcoin still has hope in the short term, as its price is currently above the bull market support zone. If it can successfully hold the support zone and rebound, the mid-term outlook may turn bullish again.