Bitcoin Nears Key Resistance as Bearish Flag Persists Within Rising Channel Structure
The post Bitcoin Nears Key Resistance as Bearish Flag Persists Within Rising Channel Structure appeared on BitcoinEthereumNews.com.
TLDR: Bitcoin trades near $72K, approaching strong resistance within a well-defined ascending channel range. Analysts warn a move toward $77K may trigger a liquidity grab before a possible bearish reversal. Strong support remains at $60K–$62K, where buyers have repeatedly prevented deeper declines. Market remains in a compression phase, with a breakout or rejection likely to define the next move. Bitcoin continues to trade within a defined range after a sharp decline, with price action showing controlled recovery. Market participants remain cautious as resistance nears, while analysts monitor whether the current structure leads to a breakout or renewed downside pressure. Bitcoin Trades Within Ascending Channel as Resistance Nears A recent tweet by Captain Faibik outlines a cautious outlook for Bitcoin despite short-term upward movement. He maintains that a bearish flag remains active on the daily timeframe, even as price attempts minor recoveries. According to his view, brief rallies have repeatedly shifted sentiment, though broader control still leans toward sellers. $BTC Bearish flag on the Daily timeframe is still in play.. Whenever #Bitcoin pumps a little, Market sentiment quickly shifts but I still Remain bearish. Bitcoin could move up toward the 77–78k region to grab liquidity & then we may see a Bearish move toward the 54–56k area… pic.twitter.com/TAI59Vzo06 — Captain Faibik (@CryptoFaibik) April 12, 2026 The chart shared alongside the tweet shows Bitcoin recovering from a steep drop near the $95,000 to $100,000 range. That decline extended toward the $58,000 to $60,000 zone, where strong buying interest emerged. Since then, price has formed a structured recovery, building higher lows and gradually moving within an ascending channel. Currently, Bitcoin trades near the $71,000 to $72,000 level. This places it in the upper-middle section of the channel, where momentum appears stable but constrained. The upper boundary between $74,500 and $77,000 has acted as…
Filed under: News - @ April 12, 2026 9:27 pm