TRENDING:
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
Sponsored by
Login
|

Bitcoin technical analysis: BTC/USD bears have forced a devastating daily closure below flag pattern

  • Bitcoin price is trading in minor positive territory, up some 0.35% in the second half of the session. 
  • BTC/USD price action broke out and closed below a bearish flag via the daily chart view.
  • The next major daily support is eyed at psychological $7000 down to $6800 range. 
Bitcoin technical analysis: BTC/USD bears have forced a devastating daily closure below flag pattern
Ken ChigboKen ChigboIndependent Analyst

BTC/USD 60-minute chart

Price action is moving within a near-term bearish flag structure, to suggest another break south may be around the corner. 



 

BTC/USD daily chart

The price is trading just below a bearish flag structure, which leaves it vulnerable to further potential downside for now. 

Spot rate:                  7,387.68

Relative change:      +0.35%

High:                          7266.01

Low:                           7177.92

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

More from Ken Chigbo
Share:

Editor's Picks

XRP rally extends as modest ETF inflows support recovery

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin rebounds after testing an intraday low at $60,000 amid persistent retail investor exit. Ethereum shows subtle signs of recovery, but ETFs outflows limit upside. XRP gains by over 10% on Friday amid mild ETF inflows and a drop in futures Open Interest to $2.40 billion.

Bitcoin Weekly Forecast: The worst may be behind us

Bitcoin Weekly Forecast: The worst may be behind us

Bitcoin price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%. 

Pi Network hits record low despite plans to deploy KYC validator rewards in March

Pi Network hits record low despite plans to deploy KYC validator rewards in March

Pi Network hovers above $0.1400 on Friday, up from the $0.1300 record low seen earlier in the day. The sell-off continues even as Pi Network has announced that it will distribute KYC validator rewards by the end of March.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: The worst may be behind us

Bitcoin: The worst may be behind us

Bitcoin (BTC) price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%.