A bitcoin bull flag indicates that the price of bitcoin may eventually rise to new heights📊
Important: 🔹Although traders anticipate a decline in the price of Bitcoin to $90,000, if profit taking close to the range highs decreases, a bull flag may emerge to reach new highs.
🔹According to on-chain data, the current profit-taking is insufficient to stop the current momentum in the price of Bitcoin.
The price of bitcoin, BTC, has been stuck below $104,000 to $105,000 for the majority of the week. Many analysts have called this a resistance zone, but another opinion contends that BTC is just consolidating within a bull flag.
A bull flag is a type of continuation pattern where a strong rise is followed by a period of sideways price movement. The uptrend continues when the structure confirms or breaks from the trendline resistance.#BTC
