Bitcoin Bear Flag Points to ₱3,896,978 ($65,000) After ₱4,496,513 ($75,000) Rally
A bear flag pattern has formed near ₱4,556,466 ($76,000) resistance, with crypto analyst CrypFlow warning that a close below $70,000 this week could trigger a decline to $65,000. The daily chart shows bearish structure that has not yet been invalidated.
Key Takeaway
Bear flag pattern risks $65,000 drop if Bitcoin closes below $70,000 this week.
A bear flag formed with Bitcoin's rally into the upper boundary near the $76,000 area, marking a major resistance band. Crypto analyst CrypFlow warns that if Bitcoin closes the week below $70,000, the bear flag projects a price path to at least $65,000. Bitcoin was trading at $70,610 at the time of writing.
CrypFlow's analysis using the Gaussian Channel indicator on the weekly timeframe raises concerns that Bitcoin may not have formed its cycle bottom yet. The Gaussian Channel transitioned from green to red in early February, a pattern that played out in historical cycles during 2015, 2018, and 2022.
Bitcoist leading crypto writer Scott Matherson wrote that Bitcoin's price recovery is not enough on its own to confirm Bitcoin is out of danger. Until the bearish structure changes, the latest bounce may be nothing.
Bitcoin has been consolidating within a rising channel over the past several weeks since early February. A previous bear flag formed from mid-November 2025 to late January 2026, with the breakdown reaching $60,000 in early February. Bitcoin has held above $60,000 since then, with support around $70,000 currently under pressure as traders watch whether this level will hold through the week ending March 21, 2026.
This article was written based on reporting from Bitcoinist.
