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 current correction has handed. Nonetheless, one crypto analyst believes the transfer is operating instantly into the extent that would determine 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 enjoying out on the each day chart.
Why Bitcoin Will Shut Might In Crimson
Leshka’s outlook on Bitcoin relies on its value motion because the February dump. The each day candlestick timeframe chart exhibits BTC recovering inside an ascending channel, with value grinding greater from the $60,000 area into the $80,000 vary on the time of writing. This restoration appears to be like constructive as a result of the motion has brought on Bitcoin to print greater lows and better highs because the February low.
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Nonetheless, Leshka interprets the identical construction otherwise. In response to the analyst, the rising channel is a bear flag at the moment in formation. A bear flag normally seems when value bounces upward in a managed channel after a serious drop, solely to later break beneath the construction and proceed decrease.
As proven within the chart beneath, Bitcoin’s current advance is proven urgent on the higher boundary of the ascending channel, and that is across the similar space the place the 200-day shifting common is positioned. Apparently, Bitcoin has gone seven months with no each day shut above this shifting common, and this makes it a serious 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 is dependent upon how the Bitcoin value 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, dropping the channel, and falling again to the $58,000 to $56,000 vary by June.
BTC’s Might File Faces A Main Take a look at
Bitcoin is already up 7.11% thus far in Might 2026. Bitcoin’s month-to-month return desk exhibits that Might has usually been considered one of its stronger months, with a median achieve of 18.7% and a median return of 8.32% throughout earlier years. Bitcoin’s value motion for Might within the final two years was optimistic, 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 attention-grabbing. The issue is that the rally is now urgent into the precise resistance zone the place the 200-day shifting 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 prime of the ascending channel.
Featured picture from Getty Photos, chart from Tradingview.com