Bitcoin is currently consolidating inside a bullish flag pattern on the 4H timeframe. The price could retest the flag support, where the 100 EMA will act as dynamic support. Additionally, there is a CME futures gap at the $114,200 level, which also aligns with the 0.5 Fibonacci retracement level. Therefore, a retest to the $114,200 zone is likely before the next potential upward move.
A potential bullish reversal could occur if BTC retests this zone and confirms a bounce. A breakout from the bullish flag pattern could signal the next leg up.
Cheers
Hexa🧘♀️
BTCUSD BTC
A potential bullish reversal could occur if BTC retests this zone and confirms a bounce. A breakout from the bullish flag pattern could signal the next leg up.
Cheers
Hexa🧘♀️
BTCUSD BTC
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🚀Telegram : t.me/hexatrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.