According to technical analysis, Bitcoin has abandoned the lower edge of the bear flag and the market is beginning to approach important liquid levels. The first significant stop may be the area around $67,000, while the key test remains the annual minimum near $60,000.
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Selling Pressure May Continue in the Coming Weeks
The current movement of bitcoin suggests that the market may not have the decline behind it yet. The area around $67,000 corresponds to a significant zone according to volume profile, where high volume has been traded in the past, and that’s precisely why it can act as the first price magnet.
However, if buyers cannot maintain even the level around $60,000, space for a deeper correction may open up. In such a scenario, the next target to watch could be the area of approximately $52,000, where some analysts have long been directing their bearish scenario.
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Ethereum Mirrors Bitcoin and Awaits Direction Confirmation
Ethereum offers a similar technical picture, also moving near the lower edge of the bear flag. If the downward breakout is confirmed, the market may start tracking lower price levels, with one logical target being the area around $1,400.
The reaction of buyers at current supports and volume development will be decisive. If selling pressure increases, the bearish scenario will gain more weight; however, if strong market defense emerges, it may just be another phase of cleanup before a new growth attempt, which will be closely watched by major players such as BlackRock.
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