An analyst predicts,

Bitcoin could reach $144,000 as a bullish flag pattern is forming,

Bitcoin prices are currently holding above $107,000, which comes after a positive trading week in which the cryptocurrency saw a 4.89% increase,

Reputed market analyst “Merlijn The Trader” has identified a bullish flag pattern on Bitcoin’s daily chart, along with a positive MACD crossover, supporting this increasing positive momentum,

A bullish flag pattern is a classic signal that indicates that the price is likely to continue rising, even though the price may be stable or decreasing for some time,

According to the chart shared by Merlijn, the pattern begins with a rapid price increase (called a flagpole), which rose from $74,000 in early April to $74,000 in late May. above $110,000,

The price then consolidates in a flag or pennant pattern, which appears as a downward or horizontal sloping channel,

This phase began after the new record high on May 22 and has so far been limited between $101,000 and $110,000,

This flag is usually a short rest period before momentum resumes in the direction of the initial trend,

Recently, price action has shown a breakout from the upper boundary of the bullish flag, which is an indication that the price increase may soon resume,

According to Merlijn

analysis, if this breakout is confirmed with a strong close, the next price target could be around $144,000, which is about a 34% increase from current prices,

Further reinforcing this positive analysis, a recent positive crossover has also been seen on the MACD indicator, which is a buy signal. is considered a signal,

This is the first such crossover in June and Bitcoin is currently testing the upper limit of the bullish flag,

Merlijn

has advised investors to take advantage of this potential increase in advance so as not to be late in the market and not suffer from FOMO,

However, all investors are also urged to do their own thorough research and take precautions, the current price of Bitcoin is around $107,485 which shows a slight increase ....#Write2Earn #BinanceSquareFamily