Bitcoin (BTC) has a new $76,000 target as the daily chart continues to print a bear flag pattern.
Key points:
Bitcoin gets new $76,000 and $50,000 price targets for the next phase of its major correction.
The bull market is “over,” a trader says, noting multiple bearish divergences.
Bitcoin’s bull market support band offers short-term hope for the ongoing relief bounce.
Trader on BTC price: “The bull run is over”
In his latest analysis Thursday, trader Roman told X followers to expect another 17% BTC price drop.
Since its recent local lows near $80,000, BTC/USD has struggled to rebound, instead trading within an upward-sloping channel.
This has the potential to become a classic bear flag — a relief bounce within a broader downtrend, with new lows coming as a result.
“Let the drop to 76k begin. Bear divs + bear price action proving their worth,” Roman commented alongside a chart showing price, volume, relative strength index (RSI) and moving average convergence/divergence (MACD) data.
The post noted that macroeconomic catalysts, while propelling stocks higher, had failed to influence crypto market price action. Even lower US interest rates were no reason to expect relief.
“Bitcoin went up 750% from macro lows,” Roman argued about the 2022 bear market bottom at $15,600.
“The bull run is over. Your best option now is to plan for the next one when we land around 50k.”
Throughout much of 2025, Roman warned of an impending bull-market collapse, with RSI in particular giving bearish signals on longer timeframes.
The bear flag was not lost on the wider crypto trading community, meanwhile, with Ted Pillows drawing comparisons to price action from 2022.
The resemblance between the $BTC current cycle and the last cycle is truly shocking.
— Ted (@TedPillows) December 11, 2025
If this plays out, a pump to $100,000 and then a dump below $70,000. pic.twitter.com/ulJ6yu1uHZ
Bitcoin bulls fight to preserve relief bounce
In the short term, others saw modest signs of improvement.
Related: Bitcoin due 2026 bottom as exchange volumes grind lower: Analysis
Trader Luca noted that on the daily chart, price was now above Bitcoin’s bull market support band.
Formed from the 21-period simple moving average (SMA) and 20-period exponential moving average (EMA), the support band often features as a safety net during bull-market corrections.
“If the price can manage to bounce off this support band, then the mid-term outlook will become decisively bullish again,” Luca told X followers Thursday.
BTC/USD is currently attempting its fourth daily candle close above the support band, per data from Cointelegraph Markets Pro and TradingView. This would be its longest stint above since early October.
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