Bitcoin target 150,000? Bull flag pattern taking shape, but 100,000 support is key, the wind is coming!
Bitcoin's recent surge perfectly aligns with the "bull flag" pattern on the technical chart, which typically indicates - continuing to soar.
The weekly bull flag has formed, and the theoretical target is 150,000 USD.
RSI has returned above 65, indicating strong buying momentum.
The confidence of the helm has returned again.
However, there are also signs of caution.
Bitwise research director reminds: market sentiment has reached the level seen at the peak in November last year, which may be overheated in the short term.
Daily RSI is seriously overbought.
If there is a pullback, the first support is at 100,000 USD.
If that is lost, it may test the 20-day EMA at 97,385.
