April 16, 2026

Bitcoin in a large bear flag.

Bitcoin in a large bear flag.

Bitcoin in a large bear flag.

Bitcoin in a large bear flag.

Bitcoin / TetherUS PERPETUAL FUTURES BINANCE:BTCUSDTPERP
MajorFan


Bitcoin in a large bear flag.

Bitcoin is forming a very clear bearish pattern on the daily. We could see one last bounce at the 36k to 38k range, targeting 50k. However, a break and close below this crucial support level along with confirmation could trigger the bear flag targeting 12k. I am not sure of the actual likelihood of us reaching 12k realistically, however, that is the target of the breakdown.

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