Bitcoin’s expected recovery above looks increasingly bleak due to the formation of a bearish flag. The leading cryptocurrency has fallen further below $74,000 over the past 24 hours, and one analyst believes the latest move is just another phase. in a much greater decline.
Bitcoin is currently trading at $73,240, down about 3.2% on the day. That decline has occurred a bearish TradingView analysis of
Bitcoin’s bear market structure is 70% complete
According to According to an expert crypto analyst known on social media as Xanrox, Bitcoin’s bear market structure is about 70% complete. Xanrox’s prediction is based on the idea that Bitcoin has been too by a big move corrective structure since all-time high above $126,000 in October 2025.
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Technical analysis of the Bitcoin chart shows three separate bearish flag formations on the daily candlestick time frame. The first is a small bearish flag, the second is a medium bearish flag and the third is a larger bearish flag currently developing around the current trading range.
The Elliott Wave count puts Bitcoin’s entire price action since October in an ABC correction pattern, with wave B now complete. By this reading, the Bitcoin bear market is about 70% done, but the most painful part still lies ahead.
Bitcoin price prediction
The ultimate prediction is that the current Bitcoin correction will continue on a certain path for months to come. The first major level on the roadmap is the lower boundary of the bearish flag, with the $71,000 region being the key level here. A breakdown below $71,000 would strengthen the bearish setup and expose Bitcoin to a new move towards the previous low set in early February around $63,000.
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The entire forecast points to a deeper correction, with the chart showing Bitcoin going through the stages of a corrective C-wave that could eventually bottom out. a down target nearby $44,000. That level was identified by Xanrox as a strong control point on the weekly candlestick chart, meaning it represents a high volume zone that could pick up the price if it breaks below $63,000.
The timeline associated with the forecast extends to the second half of the year. The projected bottom is expected to be round September or October 2026, followed by a stronger recovery in October, November and December. The roadmap then points to a bigger bull cycle after the correction ends, in 2027 and 2028, with Bitcoin potentially rising to $200,000 by 2028.
Benjamin Cowen, CEO of Into The Cryptoverse and former NASA researcher, also cited October 2026 as a base case for Bitcoin’s bear market, in line with Xanrox’s timeline.
Featured image from Getty Images, chart from Tradingview.com