Bitcoin Daily Chart Shows Bearish Patterns Amid Falling Institutional Demand
Bitcoin (BTC), currently trading around $90,601, is showing signs of potential downside as bearish continuation patterns form on the daily chart, signaling a possible drop toward key support levels, according to market analysts.
Bear Flag Pattern Targets $67,000
Analysts have highlighted a bear flag formation on Bitcoin’s daily chart, which emerged after the cryptocurrency fell from its $107,000 highs on Nov. 11. The recent rebound was rejected near the flag’s upper boundary at $93,000, suggesting a continuation of the downtrend. A daily candlestick close below the lower boundary at $90,000 could propel BTC toward the measured target around $67,380, roughly the 2021 price peak—a potential 25% drop from current levels.
Trader Roman noted that MACD and RSI indicators, which were previously oversold, are now cooling off within the flag, potentially paving the way for further declines. Pseudonymous analyst Colin Talks Crypto suggested the $74,000–$77,000 zone might serve as the likely bottom, with a strong rebound possible if this level is reached. Meanwhile, crypto trader Aaron Dishner predicts Bitcoin could revisit $92,200 and potentially approach $98,000 along the upper bear flag line before resuming the downtrend.
Weak Spot Buying and ETF Flows Signal Selling Pressure
Bitcoin’s ability to push past $93,000, the yearly open, appears limited due to weak buying momentum. Glassnode reports that Bitcoin’s spot cumulative volume delta (CVD) has fallen sharply from -$40.8 million to -$111.7 million, indicating aggressive selling and softer buyer conviction.
Additionally, spot ETF inflows have reversed dramatically, flipping from a $134.2 million inflow to a $707.3 million outflow last week, with another $60 million outflow on Monday. These trends suggest profit-taking and cautious institutional behavior, reinforcing a near-term bearish bias.
Some analysts even warn that Bitcoin’s recent rebound could be a bull trap, with projections as low as $40,000 over the coming months if selling pressure persists.
