Bull Flag Pattern.
Bitcoin is respecting the channel and it may drag on it for some more time until we see any action to the upside. To summarise we still on a bull market (despite the recent lack of action) and the potential to top should be around the 105K figure (if we measure the pool of the bull flag that is forming on the renko chart here on the image. However we could before that drop as low as 38K and in between reaching that top or hitting that low we may well still stay leveled as we are for some time. The chances of hitting 38k are less likely to happen first before we hit a new all time high however it's still a prospect in the horizon.
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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.