Bitcoin bull market trend is now reversing. What signals are technical indicators sending?

From a technical perspective, the recent formation of a bear flag pattern in Bitcoin has attracted market attention. Several trading analysts believe that this pattern could point to a downside target of 76,000 USD, with a risk of further decline to 50,000 USD.

Currently, Bitcoin is trading at $95.27K, showing a clear rebound from the recent low of around 80,000 USD, but it has yet to effectively break through the key resistance level within the upward channel. From a historical cycle perspective, since the 2022 end bear market low of 15,600 USD, Bitcoin has risen by 750%, which has also led to differing opinions on whether the bull market will continue.

Multiple technical indicators, such as the Relative Strength Index (RSI), are showing signs of weakening on long-term charts, indicating a decline in market momentum. Some analysts therefore warn investors to prepare in advance for the next bull cycle, suggesting that now may not be the best time to chase higher.

However, some traders remain relatively optimistic. They point out that Bitcoin's price is still above the bull support band, and as long as it successfully holds this key support level and rebounds, the medium-term outlook could regain strength. This view injects a different voice into the market, indicating that the current position is indeed a critical dividing line between bullish and bearish forces.