BTC has successfully broken out of the bullish flag pattern, as indicated on the chart. Following the breakout, a period of consolidation is expected, which is crucial for sustaining the trend. The ultimate target remains at 74804, with two potential scenarios outlined on the chart
Note
Note
Bitcoin (BTC) prices have witnessed a significant uptrend recently, fueled by a combination of factors including increased institutional adoption, growing mainstream acceptance, and a favorable macroeconomic environment. Institutional investors, hedge funds, and corporations have increasingly embraced Bitcoin as a store of value and an inflation hedge, allocating portions of their portfolios to the digital asset. Moreover, the ongoing global economic uncertainty and unprecedented monetary stimulus measures by central banks have spurred interest in Bitcoin as a decentralized alternative to traditional fiat currencies. As a result, Bitcoin prices have surged, attracting both institutional and retail investors seeking exposure to the potential upside of the cryptocurrency market.Note
Note
BTC returned to the OB zone and then bounced upNote
Note
BTC will soon reach $72000.Note
Note
BTC surpassed the old peak, there were some people taking profits but BTX is still in an uptrend.Note
Note
BTC will soon reach $72000.
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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.