Analyst Predicts Bitcoin Could Slide to $44,000 Amid Bearish Flag
Bitcoin’s anticipated recovery above is looking increasingly bleak due to the formation of a bearish flag. The leading cryptocurrency has fallen further below $74,000 in the past 24 hours, and one analyst believes the…
Bitcoin’s short-term rebound hopes have dimmed after the emergence of a bearish flag pattern, with the coin slipping further below $74,000 over the last 24 hours. At the time of writing BTC is trading around $73,240, roughly 3.2% lower on the day, and a prominent TradingView analyst warns this move may be part of a longer corrective decline.
The analyst, known as Xanrox, argues that Bitcoin’s current price action fits an ABC corrective sequence that began after the October 2025 peak above $126,000. By this count wave B is finished and a prolonged C-wave down is still unfolding, which Xanrox estimates leaves the broader bear market about 70% complete.
On the daily chart the technician identifies three bearish flag structures: a small flag, a medium flag, and a larger flag forming across the present trading range. The bigger pattern is the most consequential; a decisive breakdown from its lower boundary would increase the odds of a deeper pullback.
Key levels to watch are near $71,000 and the early-February lows around $63,000. A close or sustained move below $71,000 would reinforce the bearish setup and could expose BTC to a test of the $63,000 area. If selling pressure persists past that point, Xanrox highlights a longer-term target near $44,000 — marked on the weekly chart as a heavy-volume control area that could act as a magnet for price.
The projected timeframe for this corrective path stretches into the second half of 2026. Xanrox places a likely bottom in the September–October 2026 window, followed by a recovery through the final months of the year. The view expects a larger bull phase to resume in 2027–2028, with upside potential back toward previous multi-year targets by 2028 if the cycle follows historical patterns.
Other market observers have offered similar timing: Benjamin Cowen, CEO of Into The Cryptoverse, has also pointed to October 2026 as a plausible base-case bottom for this cycle, aligning with the timeframe suggested by Xanrox.
In short, the technical read is bearish until key support holds. Traders monitoring the market should watch the $71,000 and $63,000 levels for clues on whether the corrective C-wave has further to run toward the $44,000 zone or if buyers will defend those floors and limit the downside.
