Doctor Profit spots a bear flag, plots BTC's great escape to $54K 🎯

Pseudonymous crypto analyst Doctor Profit, who called Bitcoin's October peak and the subsequent decline, said on Sunday that $BTC is forming a "bear flag" on the daily chart, with an initial downside target of $54,000–$56,000 and a possible deeper move toward $40,000–$50,000. Bitcoin was last at $65,021.54, up 1.40% over 24 hours.

In a post on X, the trader identified the pattern as bitcoin's drop from the May high of $82,000 to below $60,000 by June 5 forming the "pole," with the subsequent bounce to $68,000 serving as the "flag." "Bitcoin is now forming a massive bearish flag on the daily timeframe," Doctor Profit wrote. "My target is a dump to 54-56k region first before we move sideways once again and afterwards another leg down and the bottom is close in the region between 40-50k in my opinion."

The analyst, who flagged the bull-market top at $126,000 before the selloff, said a breakdown below the lower trendline of the flag would extend the decline, with the projected move sized similarly to the initial leg lower. Chart-based readings, however, are subjective, and the same pattern can be drawn differently by other market participants; bear flags can resolve in either direction.

Options flows tracked last week were consistent with bearish positioning, with traders buying put options that implied a near-term slide to $52,000. Broader headwinds cited by market watchers include a hawkish Federal Reserve stance, rising bond yields and concerns about corporate bitcoin holder Strategy (MSTR).

The report, written by Omkar Godbole and edited by Sheldon Reback, was published on CoinDesk at 11:19 a.m. on June 22, 2026.