Bitcoin (BTC) enthusiasts have their eyes set on a potential bullish breakout as the cryptocurrency forms a notable pattern on the daily timeframe chart. Renowned analyst Captain Faibik suggests that BTC is currently shaping a bullish flag pattern, if the breakout happens Bitcoin price will see a new all-time high, potentially reaching $86,000.
Bitcoin, the flagship cryptocurrency, is showing signs of a bullish flag pattern on its daily timeframe chart. However, the chart shared by Captain Faibik highlights the bullish flag formation, with clear upward and downward trendlines converging to create a flag-like pattern.
If Bitcoin manages to break out above the upper trendline of the bullish flag pattern, analysts anticipate a significant price surge. The potential upside breakout could propel Bitcoin to achieve new record highs in the coming month.
According to Faibik’s price prediction chart, Bitcoin is anticipated to surge to approximately $74,000, testing its resistance level in the process. However, there might be some corrections along the way before Bitcoin ultimately reaches a new all-time high of $86,000.
Also Check Out : Bitcoin Price Correction Completed: Top Crypto Analyst Predicts BTC Rally to $100K!
However, Crypto Rover, a prominent crypto analyst, shares a bullish outlook on Bitcoin, emphasizing the cryptocurrency’s breakout from an ascending triangle pattern.
According to Crypto Rover’s technical analysis, Bitcoin’s price movement suggests a bullish momentum post-breakout. The ascending triangle pattern considered a bullish continuation pattern, indicates the potential for further price appreciation.
Read More : Bitcoin Price Reclaims $66,000:Will This Validate a Bullish Continuation of an Upside Move?
As of now, Bitcoin is trading at $66,400, reflecting a 1.9% increase over the last 24 hours, while its market cap hovers around $1.3 trillion.
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