Bitcoin’s restoration try has carried it again above $80,000 for the primary time since late January 2026, giving bulls a purpose to argue that the worst of the latest correction has handed. Nonetheless, one crypto analyst believes the transfer is working immediately into the extent that would resolve how Might ends for BTC.
In a technical outlook shared on X, crypto analyst Leshka warned that Bitcoin is more likely to shut Might within the purple, pointing to a bear flag construction taking part in out on the each day chart.
Why Bitcoin Will Shut Might In Crimson
Leshka’s outlook on Bitcoin relies on its worth motion because the February dump. The each day candlestick timeframe chart exhibits BTC recovering inside an ascending channel, with worth grinding increased from the $60,000 area into the $80,000 vary on the time of writing. This restoration appears constructive as a result of the motion has brought about Bitcoin to print increased lows and better highs because the February low.
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Nonetheless, Leshka interprets the identical construction in a different way. In accordance with the analyst, the rising channel is a bear flag at present in formation. A bear flag normally seems when worth bounces upward in a managed channel after a significant drop, solely to later break under the construction and proceed decrease.
As proven within the chart under, Bitcoin’s latest advance is proven urgent on the higher boundary of the ascending channel, and that is across the identical space the place the 200-day transferring common is situated. Curiously, Bitcoin has gone seven months and not using a each day shut above this transferring common, and this makes it a significant line between a restoration rally and a confirmed development reversal.
On the time of writing, the 200 MA is round $82,000. The outlook right here depends upon how the Bitcoin worth reacts to this degree. The projected bearish path proposed by the analyst exhibits Bitcoin making one last push into the resistance/200 MA confluence earlier than reversing decrease, shedding the channel, and falling again to the $58,000 to $56,000 vary by June.
BTC’s Might File Faces A Main Check
Bitcoin is already up 7.11% to this point in Might 2026. Bitcoin’s month-to-month return desk exhibits that Might has typically been one in every of its stronger months, with a median acquire of 18.7% and a median return of 8.32% throughout earlier years. Bitcoin’s worth motion for Might within the final two years was constructive, with the cryptocurrency gaining 11.1% in each Might 2024 and Might 2025.
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That historic power is what makes this prediction extra fascinating. The issue is that the rally is now urgent into the precise resistance zone the place the 200-day transferring common is located.
Earlier purple Might closes have additionally appeared throughout tough market phases, together with a 35.4% decline in Might 2021, a 15.9% decline in Might 2022, and a 7.10% decline in Might 2023. Leshka’s view is that 2026 might be part of that group if the present transfer fails on the high of the ascending channel.
Featured picture from Getty Photos, chart from Tradingview.com
