Bitcoin has lost a major higher-timeframe level, and the technical picture is not flattering for bulls. The 72.5K zone gave way, and now two widely-followed voices on X are warning traders to brace for more downside in the sessions ahead.
Coinbase selling pressure is still showing up on every bounce. Spot inflows from institutions remain absent, and the tone in the market is shifting. The macro setup, at least by technical reads, is pointing lower.
Bear Flag Breakdown Confirms the Bearish Setup
According to Manofbitcoin on X, Bitcoin has broken down from a bear flag pattern. A retest from below that breakdown zone, if it comes, would lock in the structure and open the path toward what he describes as a bearish 1-2 setup.
“$BTC has broken down from the bear flag. A retest from below would further confirm the breakdown and open the door for a bearish 1-2 setup.”
The zone he flagged sits between $63,704 and $60,855. That range is the ideal target, he noted, as long as price stays above $60,223. A wave-C of (B) scenario remains technically alive above that floor, but the breakdown read is the one gaining traction.
The $60k area is coming up in more than one conversation right now. That matters.
Weekly Close Below 68K Changes Everything
JunarXBT on X put it plainly. Losing 72.5K on the higher timeframe is a sign of weakness from the bulls. If price flips back above that level, he sees a run toward 79K as possible. But the conditions for that flip are not there yet.
“Lost major level 72.5k in HTF it’s sign of weakness for bulls. if its flip we expect 79k+ CB is still selling every bounce no spot inflow in the institute.”
He noted Coinbase continues selling into every bounce. No spot inflow from institutional players. His expectation is a test of lower levels, with choppy price action playing out over the coming weeks. A weekly close below 68K, he said, is a clear warning signal. Below that, 60K is the next meaningful test.
The 60K to 55K range is where JunarXBT said he would accumulate Bitcoin. Until a setup with better odds appears, he is sticking to scalp opportunities only, no swing positions.
Analysts Go Quiet as Price Weakens
One thing both reads share is a shift in tone. JunarXBT pointed out that the louder voices calling for new highs have gone quiet. Those who were projecting big moves to the upside are not as visible right now. He suggested ignoring that noise entirely while the technical picture remains this fragile.
Price is chopping. Buyers are not stepping in with conviction. Coinbase spot data is not supporting any bullish case right now, and the bear flag print that Manofbitcoin flagged adds a layer of technical confirmation to what is already a cautious read.
The near-term path, based on both accounts, runs through the low 60s before anything meaningful to the upside gets considered.
Key Takeaways:
- Bitcoin lost the 72.5K HTF level, a sign of weakness bulls cannot ignore heading into upcoming weeks.
- A bear flag breakdown is confirmed, with the 63.7K–60.8K zone flagged as an ideal bearish target range.
- Analysts suggest accumulating BTC in the 60K–55K range while avoiding swing positions for now.
