BTCUSDT form cattle flag, next target: 80K!!
2024-10-24

BTCUSDT form cattle flag, next target: 80K!!

Bitcoin is forming a bull flag pattern on the daily chart, hinting at a potential breakout that could propel the price towards $80,000.      Currently trading at $67,500, 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 80k.      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.