Bitcoin Bearish Flag Is Still In Play, So Price Could Crash Again

bitcoinistPublished on 2026-04-13Last updated on 2026-04-13

Abstract

Crypto analyst Captain Faibik warns that despite Bitcoin's recent surge above $70,000 and a brief rally to $73,000, the market remains in a bearish trend. He suggests the current uptrend is temporary and driven by a liquidity grab, potentially peaking between $77,000-$78,000. Following this, a 20% correction could occur, pushing the price down to the $54,000-$56,000 range, which would establish a new cycle low below the current $60,000 support. While bearish on Bitcoin, the analyst remains optimistic about altcoins, allocating 30% of his funds there. He advises investors to wait for confirmation before making moves.

Crypto analyst Captain Faibik has announced that the Bitcoin price is still very much bearish despite the recovery. This comes after the market sentiment shifted as the Bitcoin price began to surge last week and then eventually claimed the $70,000 resistance, turning it into support again. Despite a lot of Bitcoin investors turning bullish off of this, the crypto analyst is still not convinced, believing that the current uptrend us actually only temporary.

Why The Bitcoin Price Is Still Bearish Despite Reaching $73,000

Last week, the Bitcoin price surged high, rising more than 5% and reaching $73,000 before meeting resistance. This has naturally led to more positive sentiment after weeks of negative sentiment, bringing a much-needed relief rally to investors who have suffered major losses.

Despite this, Captain Faibik does not believe that this calls for celebration and is instead choosing a very conservative stance. As for the current uptrend, the crypto analyst believes it could eventually continue, putting a possible peak right between $77,000 and $78,000 due to the liquidity there.

Other than this liquidity grab, there seems to be nothing else suggesting that the bitcoin price has turned bullish. Even after the push upward to get liquidity, the next direction is expected to be downward, triggering a possible 20% correction in this regard. This correction, as the analyst explains, could lead the price to push back into the $54,000-$56,000 area.

Source: X

If this trend does play out and the price does push this low, it could mean a new cycle low for the digital asset. This will erase the current cycle support, which still lies at $60,000. Nevertheless, the crypto analyst points this out as a possible play, saying that the bears are actually still in control of the Bitcoin price.

Despite being bearish on Bitcoin, the crypto analyst remains bullish on the altcoin market. He explains that while stabling most of his funds, a good chunk (30%) is currently sitting in the altcoin market, which the analyst expects to be be more bullish than Bitcoin from here. According to the analyst, investors need to be patient and wait for confirmation first before making a move.

BTC price still holding $70,000 support | Source: BTCUSD on Tradingview.com

Related Questions

QAccording to Captain Faibik, what is the potential peak price range for Bitcoin's current uptrend?

AThe potential peak price range for Bitcoin's current uptrend is between $77,000 and $78,000.

QWhat is the analyst's predicted potential correction for Bitcoin's price after the liquidity grab?

AThe analyst predicts a potential 20% correction, which could push the price back into the $54,000-$56,000 area.

QDespite being bearish on Bitcoin, what part of the crypto market does Captain Faibik remain bullish on?

ADespite being bearish on Bitcoin, Captain Faibik remains bullish on the altcoin market.

QWhat does the analyst suggest could be erased if the price corrects to the $54,000-$56,000 level?

AIf the price corrects to the $54,000-$56,000 level, it could erase the current cycle support, which lies at $60,000, and mark a new cycle low.

QWhat does the analyst advise investors to do before making a move in the current situation?

AThe analyst advises investors to be patient and wait for confirmation first before making a move.

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