Bitcoin Bullish Pattern Points To $103,000 Target
The post Bitcoin Bullish Pattern Points To $103,000 Target appeared on BitcoinEthereumNews.com. Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The prices of Bitcoin moved by 12% in the past week, in line with a steady demand for the premier cryptocurrency. While there has been some price retracement in the last day, bullish sentiments remain high with market expectations of a further price appreciation. Bitcoin Bullish Flag Signals More Gains Ahead Following Bitcoin’s recent price surge, X market analyst Titan of Crypto reports that a clear bull flag has emerged on the 4-hour chart, suggesting a strong potential for a sustained price rally. The bull flag pattern, which signals continuation, consists of a sharp rise — the “flagpole”, as seen when BTC prices moved from $83,000 to $94,700 between April 20 – April 23. Thereafter, this is followed by a period of consolidation with downward-sloping, parallel trendlines, resembling a flag on the pole. This range-bound movement was seen as BTC moved between $91,800 – $94,700 between April 23-24. Source: @Washigorira on X The flag usually precedes a breakout to new highs, provided the bullish momentum remains intact. Notably, Bitcoin broke out of the consolidation in the flag amidst recent price gains on April 25. However, breakouts from bull flags often mirror the magnitude of the initial surge of the flagpole. As a result, BTC is now positioned to climb toward the $103,000 mark, completing the full manifestation of the bull flag pattern.Following its price pullback on Friday, Bitcoin now appears to be trading between $94,600 – $95,504 in what seems like a mini consolidation phase. If market bulls are able to sustain the current demand level, BTC is expected to resume its rally. However, a waning market appetite could cause BTC to retrace further to $92,000. 95% Of BTC Holders In Profit In other developments, analytics firm…
The post Bitcoin Bullish Pattern Points To $103,000 Target appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The prices of Bitcoin moved by 12% in the past week, in line with a steady demand for the premier cryptocurrency. While there has been some price retracement in the last day, bullish sentiments remain high with market expectations of a further price appreciation. Bitcoin Bullish Flag Signals More Gains Ahead Following Bitcoin’s recent price surge, X market analyst Titan of Crypto reports that a clear bull flag has emerged on the 4-hour chart, suggesting a strong potential for a sustained price rally. The bull flag pattern, which signals continuation, consists of a sharp rise — the “flagpole”, as seen when BTC prices moved from $83,000 to $94,700 between April 20 – April 23. Thereafter, this is followed by a period of consolidation with downward-sloping, parallel trendlines, resembling a flag on the pole. This range-bound movement was seen as BTC moved between $91,800 – $94,700 between April 23-24. Source: @Washigorira on X The flag usually precedes a breakout to new highs, provided the bullish momentum remains intact. Notably, Bitcoin broke out of the consolidation in the flag amidst recent price gains on April 25. However, breakouts from bull flags often mirror the magnitude of the initial surge of the flagpole. As a result, BTC is now positioned to climb toward the $103,000 mark, completing the full manifestation of the bull flag pattern.Following its price pullback on Friday, Bitcoin now appears to be trading between $94,600 – $95,504 in what seems like a mini consolidation phase. If market bulls are able to sustain the current demand level, BTC is expected to resume its rally. However, a waning market appetite could cause BTC to retrace further to $92,000. 95% Of BTC Holders In Profit In other developments, analytics firm…
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