#Bitcoin Prices Inside A Bull Flag, Will Buyers Succeed?
Past Performance of Bitcoin
Bitcoin prices are stable at spot rates, steady inside a bull flag as demand for the coin during the New York session supported prices. With the dynamic support line by the middle BB still vital in shaping BTC's short to medium-term formation, traders may look for entries on break out. Any surge above the bull flag may see the coin rallying above 25k.
#Bitcoin Technical Analysis
BTC remains in a tight range, fluctuating inside a bull flag as traders search for entries. As it is, buyers are in control, a net positive for optimistic traders. There will be clarity once BTC breaks out, either above 24k or 22.5k. Ideally, this liquidation should be with rising trading volumes, indicating participation. For buyers, any surge above 24k may lift BTC towards
25K or better. Conversely, losses below the base of the flag might see BTC slide to 221K and January 20 lows of 21k.
What to Expect from #BTC?
The primary trend remains northwards. Nonetheless, there are attempts to slow down the upside. This is expected considering the welcomed expansion from mid-January. Conservative traders can still wait for a clear trend definition before committing, targeting25K, or 221K, depending on the eventual breakout direction.
Resistance level to watch out for: 24k
Support level to watch out for: 21.5k
Disclaimer: Opinions expressed are not investment advice. Do your research.
Bitcoin prices are stable at spot rates, steady inside a bull flag as demand for the coin during the New York session supported prices. With the dynamic support line by the middle BB still vital in shaping BTC's short to medium-term formation, traders may look for entries on break out. Any surge above the bull flag may see the coin rallying above 25k.
#Bitcoin Technical Analysis
BTC remains in a tight range, fluctuating inside a bull flag as traders search for entries. As it is, buyers are in control, a net positive for optimistic traders. There will be clarity once BTC breaks out, either above 24k or 22.5k. Ideally, this liquidation should be with rising trading volumes, indicating participation. For buyers, any surge above 24k may lift BTC towards
25K or better. Conversely, losses below the base of the flag might see BTC slide to 221K and January 20 lows of 21k.What to Expect from #BTC?
The primary trend remains northwards. Nonetheless, there are attempts to slow down the upside. This is expected considering the welcomed expansion from mid-January. Conservative traders can still wait for a clear trend definition before committing, targeting
25K, or 221K, depending on the eventual breakout direction.Resistance level to watch out for: 24k
Support level to watch out for: 21.5k
Disclaimer: Opinions expressed are not investment advice. Do your research.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.