Bitcoin is showing mixed technical signals, with onchain cost-basis data suggesting a potential market bottom while chart patterns keep the risk of further downside in view. According to Cointelegraph, a large cost-basis cluster between $60,000 and $70,000 is being interpreted as a possible support zone, as it reflects a concentration of holders whose average purchase prices fall within that range.
At the same time, Cointelegraph reports that Bitcoin remains vulnerable due to a bearish daily flag pattern, which can indicate continuation of a downtrend. This setup leaves BTC exposed to a deeper selloff, with $50,000 cited as a potential downside target if bearish momentum persists. The combination of a possible support base near the $60,000–$70,000 range and a bearish technical formation underscores uncertainty over whether buyers can defend key levels or whether sellers will push prices lower.
Bitcoin Cost-Basis Cluster Signals Potential Bottom, but Bearish Flag Keeps $50,000 in Focus
2026-06-17 11:13:46
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
