Hello guys!
As we can see on this 1H Timeframe for Bitcoin we are inside a very bullish pattern for BTC which is a Bullish Flag Pattern. Currently BTC is testing the resistance of the Flag multiple times, which I will be expecting a breakout to the upside that could take us to the price point of the last ATH 67K. The main reason of the price going to 67K will be because of the trendline that has been tested previous times (Red Circles), and this would be the 7th time that the price would test that trendline. A successful breakout above 67K will surpass the last ATH and break this trendline to the upside. After that I would be looking for a possible last pullback to 67K and then BTC will continue to move to the upside.
I would love to hear the opinions on this analysis
and anything else you guys would like to see me analyze next!
Thanks for reading!
As we can see on this 1H Timeframe for Bitcoin we are inside a very bullish pattern for BTC which is a Bullish Flag Pattern. Currently BTC is testing the resistance of the Flag multiple times, which I will be expecting a breakout to the upside that could take us to the price point of the last ATH 67K. The main reason of the price going to 67K will be because of the trendline that has been tested previous times (Red Circles), and this would be the 7th time that the price would test that trendline. A successful breakout above 67K will surpass the last ATH and break this trendline to the upside. After that I would be looking for a possible last pullback to 67K and then BTC will continue to move to the upside.
I would love to hear the opinions on this analysis
and anything else you guys would like to see me analyze next!
Thanks for reading!