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According to Cointelegraph, Bitcoin (BTC) recently set target prices of $76,000 and $50,000. Trader Roman stated that the bull market has ended and expects BTC prices to decline by another 17%. BTC/USD failed to rebound after approaching a low near $80,000, forming an ascending channel that could become a classic bear flag pattern.
Roman pointed out that macroeconomic factors have failed to influence the crypto market prices, even with declining US interest rates, which have not provided relief. He believes Bitcoin has risen 750% from the $15,600 low in 2022 and recommends preparing for the next bull market.
Trader Luca observed that BTC price has been above the bull support band, and if it rebounds from there, the medium-term outlook will turn bullish again. BTC/USD is attempting a fourth consecutive daily close above the support band, which would be the longest since early October.