Bitcoin is forming a strong bullish flag, demonstrating readiness for a breakout with support from technical indicators, on-chain and fundamental factors.
BTC Bullish Pennant and New Bullish Target Bitcoin price is currently in a consolidation phase and moving sideways like a triangle, simulating a bullish pennant. With a new all-time high of $69,210, the expected breakout could take the price to $92,500 in the coming weeks, a 35% increase from current levels.
Bitcoin ETF Inflows Increase Strongly Bitcoin's price increase has been accompanied by a significant increase in capital inflows into Bitcoin ETF funds in the US. Latest data shows these funds hold more than $53 billion, pushing the Bitcoin price target to $100k by October 2024, according to analyst Timothy Peterson.
2020 Bitcoin Fractal Forecasts Rising Profits The similarities between current Bitcoin price action and a 2020 fractal suggest that the next bull run could be highly profitable. If the historical scenario repeats itself, BTC price could reach $75,000 after a successful breakout cycle higher.
With these positive signals, the market is expecting a big step forward in Bitcoin price in the near future.
