Bitcoin’s latest price action has given bearish analysts more reason to argue that the cryptocurrency is still moving through a deeper correction. Bitcoin has fallen back to $70,000, and selling pressure is building after another failed attempt to hold higher levels. Crypto analyst Crypto Lens has warned that Bitcoin may still need one final move lower to $42,000 before a new bull run back to new all-time highs above $126,000 can begin.
Technical analysis of Bitcoin’s price action is predicting a bearish outlook during a tense moment for the cryptocurrency. Bitcoin has already corrected by over 15% since it reached $82,850 in early May, but technical analysis from crypto analyst Crypto Lens suggests that the downtrend might not end until Bitcoin breaks below $50,000.
Notably, Crypto Lens’ chart presents the current Bitcoin setup as a cycle transition. The analyst’s roadmap begins from the idea that Bitcoin has already printed its major top near $126,199 in October 2025 and has since been moving through a series of failed recovery attempts.
The first major rejection on the chart is labeled as “Bull Trap #1,” which appeared after Bitcoin failed to hold the upper distribution zone close to the all-time high area between November 2025 and January 2026. From there, the price collapsed into a lower red range in February 2026.
Bitcoin then attempted another bounce in May, but Crypto Lens’ chart marks that move as “Bull Trap #2.” The analyst’s view is that this second trap is now close to completion, with the next expected move being a decline into a lower accumulation zone before the market can begin building toward the next major cycle.
Bitcoin Price Chart. Source: @crypto_lens_ On X
The most interesting part of Crypto Lens’ analysis is that the bearish target does not cancel the bullish endgame. The chart shows Bitcoin falling into a blue accumulation range around $42,000 before gradually entering a re-accumulation phase and then a markup stage. Therefore, the analysis is effectively arguing that Bitcoin must go lower first because the current structure still lacks a proper bottom.
The roadmap also gives the move a longer time horizon that extends outside 2026. The accumulation range around $42,000 is expected to stretch through the middle of 2026, and the re-accumulation box extends into early 2027. The markup phase then points to a recovery across 2027, with the final target breaking above the current all-time high line at $126,100.
At the time of writing, Bitcoin is trading at $69,920, down 3.9% over the past 24 hours after slipping below $70,000 from an intraday high of $72,929. The decline also comes amid news that Strategy sold a small portion of its Bitcoin holdings for the first time since December 2022.
—
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]
