QUICK UPDATE๐
4H Chart Analysis ๐
Bitcoin is currently trading in the middle of a bullish flag formation on the 4h timeframe a classic continuation pattern often seen during consolidations in strong uptrends.
Key Observations:
๐บ Price Structure: BTC is moving between parallel trendlines, with decreasing volume a textbook bullish flag.
๐บ Current Level: Trading near the mid-channel, around $117K-$118K, showing indecision but holding support.
๐บ Momentum: RSI remains neutral, but MACD hints at a potential bullish crossover.
๐บ Flag Pole Target: If the breakout confirms, the measured move points to a potential target around $130K-$135K
Prediction:
If bulls regain control and BTC breaks above the upper trendline of the flag (~$120K), we may see a strong rally toward $130K+ in the coming days.
Risk: A breakdown below the lower trendline (~$114K) would invalidate the pattern and could lead to deeper pullback toward $108K.
Stay sharp as Bitcoin could be gearing up for its next major move ๐
