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Bitcoin's slide to $58,000 has done more than trim portfolios — it has confirmed a bear flag breakdown on the chart, a pattern that technical analysts read as a signal of sustained selling pressure.
The breakdown sets a measured price target of $54,000 or lower, bringing fresh scrutiny to a market that had appeared to be consolidating.
What the Chart Pattern Shows A bear flag forms when a sharp decline is followed by a period of narrow, upward-drifting price action — the "flag" — before the downtrend resumes.
The pattern is widely tracked because it tends to resolve in the direction of the initial move.
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