Bitcoin: Small Bull Flag After Structural Shift – Upside Targets Ahead
After last Friday’s bullish surge following Powell’s speech, Bitcoin has shifted structure and is currently consolidating in a small bullish flag. This pullback appears to be a healthy retracement of the previous impulsive move, setting the stage for another potential leg higher.
Key Levels to Watch:
Immediate Retracement Zone: $45,100 – a potential area to seek new long positions if price dips.
Upside Targets: Looking for a move first toward $117 (likely referring to $117K if BTC breaks ATHs), with an extended upside potential to $123K–$124K.
Macro Tailwinds:
The broader crypto market remains constructive. Expectations of interest rate cuts are fueling risk-on sentiment, which could further enhance upside momentum in crypto assets. Any confirmed dovish pivot or macro easing could accelerate flows into Bitcoin and the wider crypto space.
Trading Plan:
Watch for continuation patterns breaking to the upside, confirming the bull flag resolution.
Manage risk around invalidation zones below recent swing lows.
After last Friday’s bullish surge following Powell’s speech, Bitcoin has shifted structure and is currently consolidating in a small bullish flag. This pullback appears to be a healthy retracement of the previous impulsive move, setting the stage for another potential leg higher.
Key Levels to Watch:
Immediate Retracement Zone: $45,100 – a potential area to seek new long positions if price dips.
Upside Targets: Looking for a move first toward $117 (likely referring to $117K if BTC breaks ATHs), with an extended upside potential to $123K–$124K.
Macro Tailwinds:
The broader crypto market remains constructive. Expectations of interest rate cuts are fueling risk-on sentiment, which could further enhance upside momentum in crypto assets. Any confirmed dovish pivot or macro easing could accelerate flows into Bitcoin and the wider crypto space.
Trading Plan:
Watch for continuation patterns breaking to the upside, confirming the bull flag resolution.
Manage risk around invalidation zones below recent swing lows.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.