Bitcoin (BTC) is currently trading above $70,000 again, after a slight recovery from its ongoing downtrend that pushed its price to $68,000 last week. Despite the brief bounce, market analysts suggest that Bitcoin’s bear trend is not over and remains broadly unchanged. The analyst believes that the world’s largest cryptocurrency could still go much lower unless it breaks a key trendline that could change its trajectory.
Why The Bitcoin Bear Trend Remains Unchanged
Market expert CrypFlow has released a fresh Bitcoin price analysis on X this week, maintaining a largely bearish outlook for the cryptocurrency unless it can break out of a critical trendline. According to the analyst, Bitcoin recently faced another rejection from the Relative Strength Index (RSI) downtrend on the three-day timeframe.
CrypFlow observed that each minor bounce into key resistance areas continues to be sold off quickly, underscoring a weak price structure. The analyst explained that Bitcoin’s continued downward trend, despite occasional relief rallies, stems from its consistent adherence to a distinct bearish structure.
Within this structure, Bitcoin forms a Bear Flag, encounters a rejection at key resistance levels, and then resumes its decline toward lower levels. CrypFlow’s accompanying chart offers further clarity on this bearish pattern. The overall narrative is that the market has remained in a sustained bear trend since Bitcoin reached its peak.
Based on the chart, the analyst identified BTC’s cycle top around October 2025, when the price skyrocketed above $126,000. From that high, a clear descending channel formed, represented by two converging red trendlines that slope downward from upper left to lower right.
As Bitcoin continued to decline within the descending channel, the cryptocurrency formed two distinct Bear Flag patterns. The first appeared around November to December 2025, where the price consolidated sideways within a rectangular range after a sharp drop, before breaking down violently again. The second and more recent Bear Flag is forming right now in March 2026. During this phase, BTC rebounded from levels below $65,000 and has since been consolidating within a rising wedge pattern.
The emergence of a new Bear Flag continuation pattern suggests that CrypFlow anticipates another downward move if the price breaks below the current structure. The analyst highlighted a strong horizontal support zone around $62,650, noting that this level currently supports Bitcoin’s entire structure. This support level represents a critical line in the sand for bulls and bears, and a breakdown below it could signal serious further downside.
On the bullish side, CrypFlow added that a decisive break above the descending trendline, potentially pushing Bitcoin’s price beyond $73,000, could invalidate the ongoing bearish trend and open the door to renewed momentum.
Negative RSI Indicators Signal Further Downtrend
At the bottom of his Bitcoin price chart, CrypFlow highlighted movements in both the RSI and the Stochastic RSI. At the time of the analysis, Bitcoin’s RSI stood at 41.59, confirming its dominant bearish momentum.
The analyst also identified two “Oversold” RSI readings, one in December 2025 and the other around February 2026, both of which coincided with sharp price drops. Notably, a descending red trendline across the RSI indicates that each bounce has been weaker than the last, a major bearish signal.
In addition, the Stoch RSI recorded readings of 79.57 and 89.51, placing the indicator in overbought territory. CrypFlow marked two separate “Bearish Cross” events on the Stoch RSI, one in December 2025 and the other recently in March 2026. A significant price drop followed the earlier bearish cross, and the current one forming now suggests that selling pressure may be building again, potentially signaling a stronger correction in the near term.
Featured image created with Dall.E, chart from Tradingview.com
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