Bitcoin Bull Flag at Golden Fib – Ready for $123K or Breakdown?📊 Market Breakdown
BTC is trading at $118,603, consolidating in a bull flag pattern right inside the Golden Fib Zone (~$116K–$119K). The 200 EMA at $101,643 remains well below, showing this is still a bullish mid-term trend. If we break out, $123K (Premium/Supply Zone) is next — but if the flag fails, we could revisit equilibrium.
Trend: Higher highs and higher lows since the April 2025 bottom; now flagging under major resistance.
Key Structure: Golden Fib Zone acting as a launchpad; $116K equilibrium below as near-term support.
Volume: Consolidation volume dropping — typical for a flag before breakout.
Indicators:
MACD: Bearish crossover still present but flattening — momentum could flip.
RSI: 59.16 – mid-zone, leaving room for an upside push.
🛒 LONGS (Bullish Scenario)
Buy Zones:
🎯 Aggressive Entry: $116K–$117K bounce within flag
✅ Confirmation Entry: Daily close above $119.5K
Take Profits:
1️⃣ $123K – Premium/Supply Zone
2️⃣ $128K – Upper channel resistance
3️⃣ $135K – Extension target if breakout is strong
Stop-Loss: $114.5K
Why This Works: Bull flag breakouts often lead to sharp continuation moves; $123K is the first magnet above.
🛑 SHORTS (Bearish Scenario)
Sell Zones:
🚨 Aggressive Entry: Rejection at $119.5K
📉 Breakdown Entry: Close below $116K
Take Profits:
1️⃣ $112K – Mid-channel support
2️⃣ $107K – Pre-breakout base
3️⃣ $101.6K – 200 EMA & strong demand
Stop-Loss: $121K
Why This Works: Losing $116K invalidates the bull flag and opens the door for a retest of the lower supports.
🔍 Technical Highlights
Bull Flag in Play: Textbook consolidation before a possible leg higher.
Golden Fib Zone: Price coiling in a key retracement area before breakout/rollover.
Macro Watch: BTC’s next move will heavily influence crypto-related stocks (MSTR, RIOT, MARA).
