A recent technical analysis has sparked concerns about Bitcoin's (BTC) near-term prospects. According to Leshka, a crypto analyst on X, the current price movement is forming a bear flag structure that could lead to a reversal.
The ascending channel formed after the February dump shows BTC grinding higher from the $60,000 region into the $80,000 range. However, Leshka interprets this as a sign of weakness rather than strength, citing the potential for a breakdown in the channel and subsequent price drop.
Bitcoin's 200-day moving average is currently around $82,000, and its failure to close above this level since late January 2026 has raised concerns about the sustainability of the current rally. The analyst's projected bearish path shows BTC making one final push into the resistance/200 MA confluence before reversing lower.