BITCOIN is currently consolidating within a bullish flag pattern on the daily chart, following a strong impulse move from the $74,000 support zone marked in April. The price is hovering near a critical horizontal resistance zone ($ 108,000–$ 109,000), which has historically acted as a major barrier to further gains.Technical Highlights:
Bullish Flag Pattern: Clear flag formation after a strong uptrend, suggesting continuation potential.
Strong Support Rebound: April's bounce from the ~$74K support zone marked a key higher low.
EMA: Price is currently trading above both the 50-day and 100-day EMAs — a bullish sign of momentum.
Breakout Potential: A confirmed breakout above the flag resistance (~$109K) could ignite a strong rally toward $130K+.
Breakout Move: If the flag pattern plays out,
BTC could target the $125K–$135K zone in the coming weeks.Buy Entry: Once the day candle closes above the flag resistance line
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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.