Bitcoin Bull Flag Breakout: Uptrend Resumes
The big bitcoin bull flag pattern, which began in March 2024, has officially come to an end yesterday with the break of the $70,000 level. This development suggests that the market has resumed its uptrend, which can be traced back to January 2023 or even as far as 2009.
With the market currently hovering around all-time highs and the bull flag pattern having been completed, we can expect increased volatility on the upside, potentially leading to a breakout of all-time highs.
However, it is essential to remain cautious and prepared for potential downturns.
Key support levels to watch include:
• 67k-68k, which remains an active support area
• $62,000, a major support level
• $43,000, the whales support, although a decline to this level is considered unlikely
We'll be dialing back the frequency of our updates, focusing on major market developments and occasional insights from other spaces; take care!
With the market currently hovering around all-time highs and the bull flag pattern having been completed, we can expect increased volatility on the upside, potentially leading to a breakout of all-time highs.
However, it is essential to remain cautious and prepared for potential downturns.
Key support levels to watch include:
• 67k-68k, which remains an active support area
• $62,000, a major support level
• $43,000, the whales support, although a decline to this level is considered unlikely
We'll be dialing back the frequency of our updates, focusing on major market developments and occasional insights from other spaces; take care!
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