Bitcoin’s price chart shows a bearish flag pattern, according to crypto analyst Dr. Profit, who warned that the digital asset could slip to the $54,000‑$56,000 range before further declines.
Technical Outlook
Investors watch the daily chart where Bitcoin forms a large bearish flag, a shape that often precedes a downward move. The pattern emerged after the coin fell from the May high of $82,000 to below $60,000 in June, then briefly recovered to $68,000. Traders interpret this sequence as a classic pause before a more pronounced correction.
Potential Price Trajectory
Dr. Profit projects that the initial drop will settle around $54,000‑$56,000, followed by a period of sideways trading. He anticipates a secondary decline that could drive Bitcoin’s bottom to between $40,000 and $50,000. The forecast rests on historical price swings and the current bearish flag formation.
Analyst Perspectives
Dr. Profit previously called the market’s peak at $126,000 correct and flagged a subsequent wave of selling. On-chain analyst Axel Adler adds that Bitcoin has not yet reached its true bottom, suggesting further downside risk for investors. Both analysts underscore the importance of monitoring blockchain metrics as the crypto market reacts to Federal Reserve policy expectations and concerns over Strategy’s BTC sale.