Just caught something on the charts that's got me a bit concerned about Bitcoin right now. This analyst I follow, Bluntz, is flagging what looks like a bearish flag pattern forming on BTC. Basically when price consolidates after a heavy selloff but then fails to break through key resistance, that's when you start seeing this kind of setup. He's saying if Bitcoin doesn't hold convincingly above 70k, we could be looking at real trouble here.

The bearish flag pattern he's pointing to suggests BTC might eventually dip down to around 51.3k - that's a Fibonacci retracement level that usually acts as support or resistance. His take is pretty clear: he thinks Bitcoin will likely break down from here and test that lower level, potentially creating some divergences on the higher timeframes. Right now BTC is sitting at 76.66k, up about 2% today, but that doesn't necessarily invalidate the technical warning.

On the altcoin side, he's also bearish on Solana. Bluntz is expecting SOL to put in another low before things potentially turn around for a bull run. SOL is trading around 86.16 at the moment, up about 1.5% on the day, but that doesn't change his outlook on more downside coming. Worth watching these levels if you're holding either of these positions.