Bitcoin forms bear flag near $66,900 as MACD reaches its most negative reading in months

Bitcoin was trading at $66,891 on April 3, 2026, holding just above a previously identified horizontal support level at $66,188 after falling from a March high near $76,000. The daily Supertrend indicator was at $74,093, well above the price, reinforcing a dominant bearish regime. Volume on the daily chart spiked sharply during the most recent leg lower, a move described as consistent with forced selling rather than orderly distribution.

Short-term structure versus broader trend

On the 4H chart, price has formed a small ascending channel since the most recent intraday low. The current close is near $66,891, printing just above the 4H Supertrend support at $65,549. While this short-term structure is tentatively constructive on the 4H timeframe, it remains inside a larger downtrend, increasing the likelihood that the move functions as a bear flag rather than a sustained reversal.

Bear flag setup and indicator readings

A bear flag is typically a brief, shallow recovery that develops within a downtrend before the next leg lower. The 4H ascending channel fits this pattern, with price recovering at a modest angle while momentum indicators remain bearish.

On the 4H chart, the MACD histogram remains deeply negative at -169. The MACD line is at -203 versus a signal of -33. There has been no bullish crossover on the 4H MACD, and the histogram continues to expand in red.

On the daily chart, MACD readings are more extreme. The MACD line is at -862 against a signal of -223, resulting in a histogram of -639. Investtech’s technical assessment for April 3 states that Bitcoin “has broken the floor of the rising trend channel in the short term” and has broken through support at $67,300, concluding that “this predicts a further decline.”

Key levels and resistance on recovery attempts

Any attempted rebound faces stacked resistance. The 50-day SMA is approximately $69,089, and the 200-day SMA is near $70,280; both are positioned above current price and are described as declining, limiting the scope for sustained upside from the current level.