Bitcoin Is Repeating 2022 Playbook That Triggered Crash To $17,500

The 2022 Bitcoin crash has been one for the history books, where the price went from $69,000 to $16,000 before hitting a bottom. Being the most recent bear market before the current cycle, there have been a lot of comparisons between the current trend and the previous one. So far, while the Bitcoin price has tried to hold up against the bears, there have been similarities to the 2022 bear market cycle that could suggest a repeat of such a crash. The Similarities That Say Bitcoin Price Might Crash Further A pseudonymous crypto analyst who goes by the name Sherlock on X pointed out multiple similarities that have popped up on the Bitcoin price chart that could suggest a repeat of the 2022 cycle. The first of these was the weekly trendline break that happened after the initial wave of declines. Once this was broken, the floodgates were opened for the bears. Related Reading: Analysts Predict Conservative XRP Price If It Follows 2017 Run Next on the list is that Bitcoin has recorded multiple red weekly candles. Then came a relief bounce that led to consolidation in the middle of this trend, as shown by the most recent bounce toward $74,000. This green candle pushed the price toward the next resistance. However, bulls were ultimately rejected from this level, leading to an impulsive break below the trend low. The last of the events that took place on the chart is the formation of the upper wick candle. Once this was completed and the price was rejected from this level, the next breakdown saw the Bitcoin price crash from $30,000 to $17,500 before the next relief, a 40% price decline. Presently, the completion of the upper wick candle is the only thing left for the Bitcoin price. Sherlock confirms that the digital asset is actually printing the upper wick candle. If this completes, then it could lead to the same breakdown that was seen back in 2022. Related Reading: XRP Bull Flag Breakout After 8-Month Consolidation To Send Price To $11 A repeat of this 40% breakdown from the current level would put the Bitcoin price back into the $35,000 territory. Following through to the end of where the last bear market bottom was established, it would mean falling as low as $30,000 before the sellers are exhausted. Interestingly, though, this was the last leg down that led to the end of the 2022 bear market. In the next few months that followed, there was a rapid recovery, and in the year following the bottom, the Bitcoin price would go on to hit new all-time highs. Featured image from Dall.E, chart from TradingView.com

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V Global Coin Fraud: Police Clear Lawmaker’s Husband in $2.1B Scandal Investigation

BitcoinWorld V Global Coin Fraud: Police Clear Lawmaker’s Husband in $2.1B Scandal Investigation SEOUL, South Korea – March 10, 2025: Police have definitively cleared lawyer Lee Jong-geun, the husband of Rebuilding Korea Party lawmaker Park Eun-jeong, of professional misconduct allegations tied to his representation in the massive V Global coin fraud case. Consequently, the Seoul Suseo Police Station closed its preliminary investigation on February 21, finding no grounds for charges under the Attorney-at-Law Act. This decision concludes a high-profile review that scrutinized the actions of a former senior prosecutor in one of South Korea’s largest financial fraud scandals. V Global Coin Fraud Investigation Concludes The police investigation into Lee Jong-geun stemmed directly from a referral by the Korean Bar Association’s Ethics Council in November 2024. The council raised specific ethical questions regarding how Lee, after retiring in 2021 as head of the Supreme Prosecutors’ Office’s criminal division, came to represent an individual implicated in the V Global fraud scheme. Authorities focused on potential violations of the Attorney-at-Law Act, which governs lawyer conduct. After a thorough review, investigators found insufficient evidence to support any charges. This outcome highlights the stringent legal thresholds required for prosecuting professional misconduct. Furthermore, the V Global case itself represents a landmark in South Korea’s financial crime history. The fraud operation promised investors astronomical 300% returns on its ‘V-Cash’ coin. Ultimately, it defrauded approximately 50,000 investors of 2.8 trillion won, equivalent to roughly $2.03 billion. The scale of the fraud triggered nationwide outrage and intensified regulatory scrutiny of the cryptocurrency sector. The table below outlines the core facts of the V Global case: Case Element Details Fraud Scheme V Global cryptocurrency platform Promised Returns 300% on V-Cash coin investments Estimated Victims Approximately 50,000 investors Total Losses 2.8 trillion won (~$2.03 billion USD) Primary Allegation Large-scale Ponzi scheme Legal and Political Context of the Case The clearance of Lee Jong-geun carries significant weight within South Korea’s intersecting legal and political landscapes. Lee is not merely a private attorney; he is a former high-ranking prosecutor and the spouse of an opposition party lawmaker. This connection inevitably drew heightened public and media attention to the ethics probe. The Rebuilding Korea Party, led by lawmaker Park Eun-jeong, has positioned itself as a reformist force. Therefore, any perception of ethical lapses linked to its members’ families could impact political credibility. The police’s conclusive finding helps mitigate potential political fallout from the association. Moreover, the case underscores the evolving challenges in regulating legal ethics within complex financial crimes. The Attorney-at-Law Act sets strict standards to prevent conflicts of interest and ensure lawyer integrity. Investigating whether a former prosecutor’s representation crossed ethical lines required meticulous examination of client acquisition timing and prior professional relationships. The police’s decision suggests the available evidence did not meet the high bar for proving a statutory violation. This outcome reinforces the principle that allegations must be substantiated by concrete proof, not mere circumstantial association. Expert Analysis on Post-Prosecution Careers Legal experts note that the movement of senior prosecutors into private practice, often representing clients in high-stakes cases, is a common but closely watched career path in South Korea. The key ethical consideration revolves around the ‘cooling-off’ period and the avoidance of cases where a prosecutor’s previous official duties could create a conflict. The police investigation into Lee specifically examined these parameters. By finding no violation, the authorities have effectively affirmed that his representation in the V Global matter did not contravene the established legal ethics framework. This provides a clarifying precedent for other former public officials navigating private legal work. Impact on South Korea’s Crypto Regulation The V Global fraud, irrespective of the recent investigation’s outcome, has left an indelible mark on South Korea’s regulatory approach to digital assets. The sheer magnitude of the losses accelerated legislative efforts to enhance investor protection. In response, financial authorities have implemented stricter rules for cryptocurrency exchanges and token issuers. Key regulatory changes include: Enhanced KYC/AML Requirements: Mandating real-name verification for all crypto trading accounts. Exchange Licensing: Requiring digital asset service providers to obtain formal operating licenses. Increased Penalties: Legislating harsher punishments for fraud and market manipulation in the crypto sector. Investor Education Campaigns: Government-led initiatives to warn the public about high-yield investment scams. These measures aim to prevent future scams on the scale of the V Global operation. The case remains a cautionary tale for investors, emphasizing the critical need for due diligence in the volatile cryptocurrency market. While the legal cloud over one lawyer has lifted, the broader lessons about financial vigilance and robust regulation continue to resonate strongly. Conclusion The Seoul police’s decision to close the investigation into Lee Jong-geun marks a definitive endpoint to one facet of the sprawling V Global coin fraud saga. It underscores the necessity of evidence-based conclusions in legal ethics proceedings. However, the resolution of this individual case does not diminish the profound impact of the $2.1 billion fraud on thousands of victims and South Korea’s financial regulatory framework. The V Global scandal will continue to influence cryptocurrency policy and investor awareness for years to come, serving as a stark reminder of the risks inherent in unverified high-return promises. FAQs Q1: What was Lee Jong-geun accused of? The Korean Bar Association’s Ethics Council referred him for a potential violation of the Attorney-at-Law Act, questioning the propriety of his representation of a V Global case figure after his retirement as a senior prosecutor. Q2: What is the V Global coin fraud case? It was a massive Ponzi scheme that defrauded around 50,000 investors of roughly $2.1 billion by promising 300% returns on a cryptocurrency called V-Cash. Q3: What is the Rebuilding Korea Party? It is a South Korean political party. Lawmaker Park Eun-jeong, Lee Jong-geun’s wife, is a member of this party, which added a political dimension to the ethics investigation. Q4: Did the police find any evidence of wrongdoing? According to their report, the Seoul Suseo Police Station concluded its preliminary investigation and found no grounds to file charges against Lee Jong-geun for violating the Attorney-at-Law Act. Q5: How has the V Global case affected South Korea? The fraud catalyzed stricter cryptocurrency regulations, including tighter exchange licensing, real-name account systems, and stronger investor protection laws to prevent similar large-scale scams. This post V Global Coin Fraud: Police Clear Lawmaker’s Husband in $2.1B Scandal Investigation first appeared on BitcoinWorld .

Crypto market adds $140 billion in hours; Here’s why

The cryptocurrency market has staged a sharp rebound within hours, adding nearly $150 billion in value over the past day. By press time, the total crypto market capitalization stood at $2.41 trillion, recovering from a 24-hour low of $2.27 trillion, an increase of about $140 billion. Crypto market 30-day chart. Source: CoinMarketCap Leading cryptocurrencies drove much of the recovery with Bitcoin ( BTC ) climbing 4.74% to $70,862, maintaining its dominance with a market capitalization of roughly $1.4 trillion. Ethereum ( ETH ) rose 3.40% to $2,063, bringing its valuation close to $248.9 billion. Other large-cap assets also advanced, with BNB trading around $647.76 and holding a market cap of $88.3 billion, while XRP rose to $1.41, pushing its valuation to about $86.1 billion. Top cryptocurrencies’ performance. Source: Finbold Why crypto market is rising Several developments appear to be fueling the rapid recovery after weeks of volatility. A key driver has been shifting geopolitical sentiment following signals that tensions in the Middle East may be easing. Comments from President Donald Trump suggesting the conflict involving Iran could conclude soon reduced global risk anxiety. As concerns softened, oil prices declined, and the U.S. dollar weakened slightly, conditions that often support risk assets such as cryptocurrencies. Market mechanics also accelerated the rally. Notably, in recent days, traders had accumulated large short positions amid fears tied to geopolitical instability and broader macroeconomic uncertainty. As prices began to rise, many of these bearish bets were forced to unwind. The resulting liquidations triggered a short squeeze, adding momentum across major digital assets, particularly Bitcoin and leading altcoins. Regulatory developments in the United States have also supported investor sentiment. Proposed frameworks such as the Clarity Act and related stablecoin legislation aim to define regulatory responsibilities and establish a more structured environment for crypto markets, helping ease long-standing concerns over regulatory uncertainty. Broader market dynamics have also supported the rebound. Bitcoin recently tested support in the mid-$60,000 range amid recession fears and geopolitical shocks. As those pressures began to ease, institutional demand, including continued flows into spot Bitcoin exchange-traded funds during March, helped support the recovery. Crypto market risks Despite the sharp rebound, the macro backdrop remains uncertain. Risks tied to global growth, geopolitically driven inflation, and upcoming monetary policy decisions could still introduce volatility. The latest surge appears driven largely by relief and short-covering rather than a major influx of new capital, suggesting the market may remain uneven in the near term. The post Crypto market adds $140 billion in hours; Here’s why appeared first on Finbold .

Was Ethereum 'ultrasound money' a mistake? ETH down 65% vs. BTC since pivot

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Circle USDC Price Target: Bernstein’s Bold $190 Forecast Signals Explosive Stablecoin Growth

BitcoinWorld Circle USDC Price Target: Bernstein’s Bold $190 Forecast Signals Explosive Stablecoin Growth NEW YORK, March 10, 2025 – In a significant endorsement of stablecoin infrastructure, Wall Street asset manager Bernstein reaffirmed its $190 price target for Circle Internet Financial, the issuer of the USDC stablecoin. This analysis projects a substantial 70% upside from recent closing prices, highlighting a transformative shift in global payments. Consequently, the firm’s outlook underscores the accelerating adoption of digital dollar tokens beyond speculative crypto trading. Bernstein’s $190 Circle Price Target Analysis Bernstein analysts maintain a firm “outperform” rating for Circle’s stock. They base this bullish stance on several core pillars. Firstly, they identify accelerating adoption drivers. Secondly, they recognize the stock’s separation from broader crypto market sentiment. According to their research, the utility of stablecoins as a payment rail is expanding independently. Therefore, Circle’s valuation is increasingly tied to its role in financial infrastructure, not digital asset speculation. The $190 target represents a clear long-term conviction. Analysts point to USDC’s position as the world’s second-largest stablecoin by market capitalization. This scale provides a formidable network effect. Furthermore, Circle’s regulatory compliance and banking partnerships create significant moats. The firm’s transparent attestations of USDC’s dollar reserves add a critical layer of trust. As a result, institutional adoption continues to gain momentum. The Accelerating Adoption of Stablecoins Bernstein’s report details a multi-faceted adoption curve. Traditional businesses now utilize stablecoins for cross-border settlements. This use case offers speed and cost advantages over legacy systems. Simultaneously, individual users leverage them for remittances and digital commerce. Perhaps most notably, the analysts highlight a nascent but growing trend: adoption by autonomous AI agents. The Rise of AI and Programmable Money The integration of AI agents into economic activity creates a new demand vector. These agents require programmable, internet-native money for micro-transactions and services. Stablecoins like USDC are uniquely positioned to serve this need. Their digital nature allows for seamless integration into software and smart contracts. This potential represents a vast, untapped market for Circle and similar issuers. Adoption metrics support this growth narrative. Total stablecoin transaction volume has consistently broken records. For instance, quarterly settlement values now routinely surpass several trillion dollars. The following table illustrates key growth indicators for the stablecoin sector: Metric 2023 2024 Growth Total Stablecoin Market Cap $130B $180B ~38% Annual Settlement Volume $9T $14T ~55% Active Wallet Addresses 25M 40M 60% USDC as Global Digital Dollar Infrastructure Bernstein’s analysis elevates the discussion beyond cryptocurrency. The firm frames leading stablecoins as foundational components of a new global financial system. They describe this system as a “global digital dollar banking infrastructure.” This infrastructure operates 24/7, bypassing traditional banking hours and geographic restrictions. Importantly, it provides dollar exposure and stability to users worldwide without requiring a U.S. bank account. This infrastructural role carries profound implications. It positions companies like Circle alongside payment networks and financial utilities. Their growth becomes less cyclical and more tied to macroeconomic trends in global trade and digitization. Key utility drivers include: Cross-Border Payments: Reducing cost and time for international transfers. Programmable Finance: Enabling automated payroll, subscriptions, and treasury management. Financial Inclusion: Providing dollar-denominated accounts via smartphone. DeFi Integration: Serving as the primary liquidity layer for decentralized applications. Regulatory Clarity and Market Maturation The path to Bernstein’s price target hinges on continued regulatory progress. Recent U.S. legislative efforts, like the Clarity for Payment Stablecoins Act, provide a more predictable framework. Circle has actively engaged with regulators, advocating for sensible rules. This proactive stance mitigates regulatory risk. Meanwhile, other jurisdictions, including the EU with MiCA and the UK with its stablecoin regime, are establishing clear guidelines. This global regulatory maturation reduces uncertainty for investors. Conclusion Bernstein’s maintained $190 Circle price target reflects a deep analysis of structural shifts in finance. The investment thesis transcends short-term crypto volatility, focusing instead on USDC’s role in building a global digital dollar infrastructure. With adoption accelerating among businesses, individuals, and AI agents, Circle’s potential upside remains significant. Ultimately, the convergence of regulatory clarity, technological utility, and macroeconomic demand creates a powerful growth narrative for the leading USDC issuer. FAQs Q1: What is Bernstein’s price target for Circle, and what does it represent? Bernstein maintains a $190 price target for Circle, representing a potential 70% upside from its closing price on March 9, 2025, based on its analysis of USDC’s growing adoption and infrastructural role. Q2: Why is Bernstein bullish on Circle and USDC? The firm cites accelerating adoption by people and businesses for payments, potential use by AI agents, and USDC’s evolution into a “global digital dollar banking infrastructure” that operates independently of general crypto market sentiment. Q3: How does USDC’s role differ from other cryptocurrencies? Unlike volatile cryptocurrencies like Bitcoin, USDC is a stablecoin pegged 1:1 to the U.S. dollar. Its primary value proposition is stability and utility as a digital payment rail and settlement layer, not speculative investment. Q4: What is meant by “global digital dollar banking infrastructure”? This refers to the system where stablecoins like USDC provide instant, global, 24/7 access to dollar-denominated transactions and savings outside the traditional cross-border banking system, akin to a digital public utility for money. Q5: What are the main risks to Bernstein’s optimistic price target for Circle? Key risks include unexpected stringent U.S. regulation, loss of market share to competing stablecoins, failure to maintain full reserve backing, or systemic risks within the broader crypto and DeFi ecosystems where USDC is heavily used. This post Circle USDC Price Target: Bernstein’s Bold $190 Forecast Signals Explosive Stablecoin Growth first appeared on BitcoinWorld .

Tokenized Stock Market Shatters $1B Barrier as Ondo and xStocks Lead Explosive Growth

BitcoinWorld Tokenized Stock Market Shatters $1B Barrier as Ondo and xStocks Lead Explosive Growth Global, March 2025 – The tokenized stock market has officially surpassed the $1 billion threshold, marking a pivotal moment for blockchain-based financial infrastructure. According to recent data from Foresight Ventures and RWA.xyz reported by Cointelegraph, this milestone reflects accelerating institutional adoption and technological maturation. Consequently, the market for blockchain-represented equities is experiencing unprecedented expansion. Platforms like Ondo Finance and xStocks currently dominate this rapidly evolving landscape. Moreover, regulatory developments and liquidity improvements are fundamentally reshaping competitive dynamics across the sector. Tokenized Stock Market Reaches Critical Mass The $1 billion valuation represents more than just a numerical achievement. Specifically, it signals mainstream validation for real-world asset (RWA) tokenization. Traditional financial institutions now actively explore blockchain integration. Furthermore, trading volume and liquidity have expanded dramatically across supporting platforms. This growth trajectory mirrors early internet adoption patterns in financial services. Market analysts consistently highlight several key drivers behind this acceleration. First, institutional demand for fractional ownership has increased significantly. Second, blockchain technology provides enhanced settlement efficiency. Third, global regulatory frameworks are gradually becoming more defined. The current market composition reveals interesting patterns. For instance, technology stocks represent approximately 40% of tokenized assets. Meanwhile, traditional blue-chip equities account for another 35%. Emerging market securities complete the remaining portion. Comparative Platform Analysis Different platforms employ distinct tokenization structures and compliance approaches. The following table illustrates key differences between market leaders: Platform Primary Focus Token Standard Regulatory Approach Ondo Finance Institutional-grade RWAs ERC-20 with extensions SEC-registered offerings xStocks Retail accessibility Multi-chain compatible Partnerships with licensed brokers These structural differences create varied user experiences and risk profiles. Additionally, they influence platform scalability and interoperability potential. Ondo Finance and xStocks Establish Market Leadership Ondo Finance has emerged as the institutional favorite for tokenized securities. The platform focuses primarily on compliant financial products. Its tokenized treasury offerings gained particular traction throughout 2024. Meanwhile, xStocks has captured significant retail market share. The platform emphasizes user-friendly interfaces and educational resources. Both companies recently reported substantial quarterly growth metrics. Ondo’s success stems from several strategic advantages: Regulatory compliance: Full SEC registration for specific offerings Institutional partnerships: Collaborations with traditional financial entities Technology infrastructure: Enterprise-grade blockchain solutions Liquidity management: Sophisticated market-making strategies Conversely, xStocks excels in different areas. The platform prioritizes accessibility and educational content. Its multi-chain architecture supports diverse user preferences. Furthermore, xStocks maintains partnerships with licensed brokerage firms globally. These collaborations ensure regulatory compliance across jurisdictions. Regulatory Landscape Shapes Competitive Dynamics Regulatory considerations remain the primary challenge for tokenized stock platforms. Different jurisdictions approach blockchain securities with varying frameworks. The United States maintains particularly stringent requirements. Europe has developed more unified regulations through MiCA implementation. Asia presents a fragmented but rapidly evolving regulatory environment. Platforms must navigate complex compliance requirements. These include: Securities registration and disclosure obligations Anti-money laundering (AML) protocols Know-your-customer (KYC) verification systems Cross-border trading restrictions Tax reporting and compliance mechanisms Successful platforms develop sophisticated compliance architectures. They integrate traditional financial regulations with blockchain capabilities. This hybrid approach enables sustainable growth while mitigating regulatory risks. Liquidity and Market Structure Evolution Liquidity scale represents another critical competitive factor. Early market leaders benefit from network effects. As trading volume increases, liquidity improves proportionally. This creates virtuous cycles that reinforce market dominance. However, new entrants continue developing innovative solutions. Several platforms now implement automated market makers (AMMs). These systems enhance liquidity for less frequently traded assets. Additionally, cross-chain bridges facilitate asset movement between ecosystems. These technological innovations address traditional liquidity challenges. They enable more efficient price discovery and reduced slippage. Technological Infrastructure and Future Developments Blockchain technology continues evolving to support financial applications. Several key developments will influence tokenized stock markets. Layer 2 scaling solutions reduce transaction costs significantly. Zero-knowledge proofs enhance privacy while maintaining compliance. Interoperability protocols enable seamless cross-chain asset transfers. The infrastructure landscape includes several critical components: Oracle networks: Provide reliable price feeds and external data Custody solutions: Secure asset storage with insurance options Settlement systems: Faster and more efficient transaction finalization Compliance tools: Automated regulatory monitoring and reporting These technological advancements support market maturation. They address previous limitations around scalability and security. Consequently, institutional adoption continues accelerating throughout 2025. Market Impact and Broader Financial Implications The $1 billion milestone carries significant implications for global finance. Traditional stock exchanges now face competitive pressure from blockchain alternatives. Market structure evolution may reduce intermediary dependencies. Settlement times could decrease from days to minutes. Furthermore, fractional ownership enables broader investment participation. Several observable trends deserve particular attention: Traditional financial institutions increasingly partner with blockchain platforms Regulatory clarity improves in major financial jurisdictions Technological standardization facilitates interoperability Educational resources demystify blockchain investing for mainstream audiences These developments suggest sustained growth potential. Market analysts project continued expansion throughout the decade. Conservative estimates suggest $10 billion valuation by 2027. More optimistic projections exceed $50 billion within the same timeframe. Conclusion The tokenized stock market has achieved a historic $1 billion valuation, fundamentally altering financial market structures. Ondo Finance and xStocks currently lead this transformative sector through distinct strategic approaches. Regulatory developments, technological innovation, and liquidity improvements continue shaping competitive dynamics. Consequently, blockchain-based equity trading represents more than technological novelty. It signifies fundamental financial infrastructure evolution. The tokenized stock market now enters its next growth phase with established foundations and clear trajectories. FAQs Q1: What exactly are tokenized stocks? Tokenized stocks are digital representations of traditional company shares issued on blockchain networks. They provide ownership rights and potential dividends while enabling fractional ownership and 24/7 trading. Q2: How do tokenized stocks differ from traditional shares? Tokenized stocks offer several distinct advantages including faster settlement times, reduced intermediary requirements, fractional ownership capabilities, and continuous market access beyond traditional exchange hours. Q3: Are tokenized stocks legally recognized? Legal recognition varies by jurisdiction. Platforms like Ondo Finance operate with full SEC registration in the United States, while other platforms partner with licensed brokers to ensure regulatory compliance across different regions. Q4: What risks are associated with tokenized stock investing? Primary risks include regulatory uncertainty, platform security vulnerabilities, liquidity constraints for smaller assets, technological complexity, and potential custody issues if platforms lack proper insurance and security measures. Q5: How can investors participate in tokenized stock markets? Investors typically create accounts on compliant platforms, complete KYC verification procedures, deposit funds through supported payment methods, and then purchase tokenized stocks through platform interfaces or integrated decentralized exchanges. This post Tokenized Stock Market Shatters $1B Barrier as Ondo and xStocks Lead Explosive Growth first appeared on BitcoinWorld .

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Bitcoin Continues Bounce as Trump Says Iran War Over 'Pretty Quickly': Rally Sustained? – BTC TA March 10, 2026

US President Donald Trump boosted the US stock market on Monday with comments suggesting that the war with Iran could soon be over. The S&P 500 turned up sharply, and the Bitcoin price has continued its bounce. Can the bulls push the price to a local higher high? $BTC price reaches $71K but low volume prevents breakout Source: TradingView While it can be seen in the short-term chart above that the $BTC price has reached a minor trendline, plus horizontal resistance at $71,850, it might not have the impetus to break through. Volume is very low for such a breakout and so it might be expected that the price is rejected here and that it comes back down, perhaps at least to the major $69,000 level which is now support again. If the bulls are able to get above this resistance and the trendline, the last pivot high of $74,000 would be the absolute minimum target in order to preserve the bulls’ hopes of a trend change. Short pause or lower high? Source: TradingView The daily time frame view probably gives a better overview of the current situation. A couple of decent length green candles have just been stopped in their tracks by the combination of the horizontal resistance and the minor trendline. It can also be seen at the bottom of the chart how the volume bar is still very low. Of course, there’s a lot more time in the day for this to change. Positive statements out of the Middle East conflict could help to bring this about. If the $BTC price is rejected from here, this would mean a lower high, a potential end to this particular attempt by the bulls at a trend change, and a likely drop to at least $66,000, with the possibility of a plunge down to $60,000. Bear flag continues to emerge Source: TradingView The weekly chart is bullish if the descending channel is taken into account. However, another big bear flag looks as though it is starting to emerge . If the $BTC price is able to break out above $71,000 and surges higher from there, all eyes should be on from where the price is eventually rejected. If the price touches the top limit of the bear flag and comes back down, this would be a big warning that the flag is definitely in play. There could still possibly be one more attempt at breaking through, but if that was also rejected, then stand clear below. A break to the downside could bring the price down to less than $50,000. With all that bearishness out of the way, the Stochastic RSI is a ray of light. The indicator lines have crossed up, and by the end of this week, or possibly the next, they could be above the 20.00 level where they would signal big upside momentum. Will Bitcoin surprise everyone and break out of the descending channel and move back to the all-time high, or is this just a bear market rally with another big leg down still to come? Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.