{"id":25028,"date":"2026-04-04T00:04:16","date_gmt":"2026-04-04T00:04:16","guid":{"rendered":"https:\/\/bitunikey.com\/news\/is-bitcoin-price-forming-a-bear-flag-at-66900-as-its-daily-macd-reaches-its-deepest-negative-reading-in-months\/"},"modified":"2026-04-04T00:04:25","modified_gmt":"2026-04-04T00:04:25","slug":"is-bitcoin-price-forming-a-bear-flag-at-66900-as-its-daily-macd-reaches-its-deepest-negative-reading-in-months","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/is-bitcoin-price-forming-a-bear-flag-at-66900-as-its-daily-macd-reaches-its-deepest-negative-reading-in-months\/","title":{"rendered":"Is Bitcoin price forming a bear flag at $66,900 as its daily MACD reaches its deepest negative reading in months?"},"content":{"rendered":"
\n

Bitcoin is holding just above a broken support level at $66,900 as a potential bear flag forms on the 4H chart and the daily MACD hits one of its most negative readings of the current cycle, raising the risk of a move toward $63,000 heading into a low-liquidity Good Friday weekend.<\/p>\n

\n
\n Summary<\/span>\n <\/div>\n
\n
    \n
  • Bitcoin is trading at $66,891, holding just above a broken $66,188 support level after selling off from a March peak near $76,000.<\/li>\n
  • The 4H chart shows a small ascending channel forming within the downtrend, a structure that could represent a bear flag, while the daily MACD histogram stands at -639, one of its most extreme negative readings in the current cycle.<\/li>\n
  • A failure of the $65,549 Supertrend support targets $63,000, while a confirmed daily close above $68,400 would be the first signal of short-term relief.<\/li>\n<\/ul><\/div>\n<\/div>\n

    <\/p>\n

    Bitcoin (BTC) is trading at $66,891 on April 3, 2026, holding just above what was previously a horizontal support level at $66,188 after declining from a March high near $76,000. The daily Supertrend indicator sits at $74,093, positioned well above the price in red, confirming the dominant bearish regime. Volume on the daily chart spiked sharply during the most recent leg lower, a pattern broadly consistent with forced selling rather than orderly distribution.<\/p>\n

    On the 4H chart, price has formed a small ascending channel since the most recent intraday low, with the current close near $66,891 printing just above the 4H Supertrend support at $65,549. This short-term structure appears tentatively constructive on the 4H, but it sits inside a much larger downtrend, raising the probability that it is a bear flag rather than a genuine reversal.<\/p>\n

    Bear Flag Setup and Indicator Readings<\/strong><\/h1>\n

    A bear flag is a brief, shallow recovery that forms within a downtrend before the next leg lower. The 4H ascending channel on the Bitcoin chart fits this description: price is recovering at a modest angle, and the MACD histogram on the 4H remains deeply negative at -169, with the MACD line at -203 compared to a signal of -33. There is no bullish crossover on the 4H MACD, and the histogram continues to expand in the red.<\/p>\n

    <\/figure>\n

    On the daily chart, the MACD readings are more extreme. The MACD line stands at -862 against a signal of -223, producing a histogram of -639. Investtech\u2019s technical assessment for April 3 notes that Bitcoin \u201chas broken the floor of the rising trend channel in the short term\u201d and broken through support at $67,300, concluding that \u201cthis predicts a further decline.\u201d The 50-day SMA at approximately $69,089 and the 200-day near $70,280 both sit above current price in declining trajectories, providing stacked resistance on any attempted recovery.<\/p>\n

    <\/p>\n

    Key Levels, Price Targets, and Invalidation<\/strong><\/h2>\n

    Immediate support sits at $65,549, the current 4H Supertrend reading. A 4H close below this level would likely accelerate the move toward $63,000-$64,000, the next major support region from early 2026 price history. A deeper breakdown below $60,490 targets $54,000, according to technical analysis published by CoinDCX.<\/p>\n

    Resistance to the upside: the broken $66,188 level is now a resistance flip. The upper boundary of the 4H ascending channel near $68,400, which also aligns with the 4H Supertrend bear line, is the first meaningful ceiling. A confirmed daily close above $68,400 would neutralize the bear flag thesis and open a relief rally toward $70,000.<\/p>\n

    Options Expiry and Market Context<\/strong><\/h2>\n

    Around 27,600 Bitcoin options contracts expired on April 3 with a notional value near $1.8 billion and a max pain level of $68,000, according to data from Coinglass. The put\/call ratio near 0.55 shows slightly more calls than puts expiring, but with price trading below max pain, an options-driven bounce faces an uphill battle.<\/p>\n

    As crypto.news reported, Bitcoin fell over 4% to $66,250 on April 2 as escalating U.S.-Iran tensions pushed oil above $100 and triggered more than $420 million in leveraged liquidations across the market. CME futures are closed today for Good Friday, removing institutional demand and liquidity at a critical juncture.<\/p>\n

    CoinDCX\u2019s research team noted that \u201ca sustained daily close of the $67,500 support zone\u201d is required for a 5-7% April recovery toward $72,000 to remain viable. A failure to reclaim that level into next week, combined with the deeply negative daily MACD, places $63,000 as the most likely next directional target.<\/p>\n

    <\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

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