Bitcoin: Potential Breakout from Bull Flag Pattern
We definitely need to keep a close watch on Bitcoin over the next few days. The price is currently stuck in a bull flag, and a break of the trend line, which is around the 68k mark, could signal the resumption of a bullish push. The challenge with this pattern is that the trend line varies slightly depending on who draws it, but it generally sits between 67k and 68k. A better but later confirmation, could be a break above the July 29 high at 70k.
The pattern suggests that price could reach 83k, or even higher, depending on different interpretations. So, it’s crucial to keep an eye on Bitcoin in the coming days.
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The pattern suggests that price could reach 83k, or even higher, depending on different interpretations. So, it’s crucial to keep an eye on Bitcoin in the coming days.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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