BTCUSDT- Bull Flag - Will break through 86K in Q4!
2024-10-22

BTCUSDT- Bull Flag - Will break through 86K in Q4!

Bitcoin is forming a bull flag pattern on the daily chart,  hinting at a potential breakout that could propel the price towards $86,000. Currently trading at $67,660, Bitcoin is testing the upper boundary of the flag,  with multiple rejections seen in previous attempts to break out.   This consolidation within a descending channel,  following a strong upward trend, suggests a bullish continuation if the breakout is confirmed.

If Bitcoin successfully breaches the flag’s resistance,  the measured move from the prior leg indicates a target of 86k.   Bull flags are known for signaling a continuation of  the prevailing trend, and with Bitcoin’s bullish momentum intact,  a breakout could lead to a significant surge.   Traders should watch for a clean break above the upper trendline as a  confirmation of this setup.