Analyst Says Bitcoin Is Set To Close This Month In The Red, Here’s Why

Bitcoin briefly surged above $80,000, but a crypto analyst forecasts a bearish May close. The analyst, Leshka, sees a bear flag pattern forming on the daily chart, suggesting a pullback is imminent. Bitcoin's price has been recovering within an ascending channel following a February drop. However, Leshka interprets this channel as a bear flag, a pattern often preceding further declines. The 200-day moving average acts as a critical resistance level, currently around $82,000. Bitcoin hasn't closed above this moving average in seven months, signaling its significance. The analyst predicts Bitcoin will fail to break the resistance, leading to a drop to the $58,000-$56,000 range. Despite Bitcoin's positive performance in May, the analyst's prediction is interesting. Historically, May has often been a strong month for Bitcoin, but the current chart pattern contradicts that. Previous May downturns coincided with challenging market conditions. Leshka suggests that 2026's May could join past negative performances. This outlook hinges on Bitcoin's reaction near the channel's upper boundary and the 200-day moving average.