Bitcoin is facing a new $76,000 target as bearish patterns emerge. A trader predicts a 17% price drop, signaling the end of the bull run. The market support band offers short-term hope, but macroeconomic factors are not influencing crypto price action. The wider trading community sees similarities to 2022 price action.

Despite warnings of a market collapse, Bitcoin bulls are trying to preserve a relief bounce. Some traders see signs of improvement as the price remains above the bull market support band, potentially leading to a bullish outlook. BTC/USD is attempting its fourth daily close above the support band, the longest streak since early October.

Read more at Cointelegraph: Bitcoin on the Road to $50,000 With Bull Market ‘Over’