Confidence in Bitcoin’s recovery appears diminished following the emergence of a bearish flag pattern. The cryptocurrency has slipped further below $74,000 in the last 24 hours, with analysts suggesting this is merely a phase in a broader downturn. Currently priced at $73,240, Bitcoin has seen a decline of approximately 3.2% today. This has amplified the relevance of TradingView analyst Xanrox’s bearish outlook, who cautioned that Bitcoin might breach its current support levels and face a decline down to $44,000. According to Xanrox, the bear market for Bitcoin is about 70% complete, indicating this downturn is part of a larger corrective process since its peak of over $126,000 in October 2025. Technical analysis highlights various bearish flags on Bitcoin’s daily charts, suggesting the ongoing correction is poised to last for months. Key resistance levels include $71,000, below which the price could head towards earlier lows around $63,000. Forecasts indicate a possible bottom around $44,000, aligning with Xanrox’s identification of this level as a high-volume support zone. The timeline for this anticipated downturn extends into late 2026, with prospects of a robust recovery leading to new highs by 2028.
