Bitcoin

<ul><li>Bitcoin&#39;s flag-like consolidation pattern indicates a potential bullish breakout, signaling continuation of the previous trend.</li><li>Analysts observe Bitcoin rebounding from key support levels, suggesting strong buying interest and potential for an upward move.</li><li>A bullish divergence in Bitcoin&#39;s RSI hints at weakening selling pressure, increasing the likelihood of a price reversal to the upside.</li></ul><a href="https://cryptotale.org/trump-raises-21m-at-bitcoin-2024-conference-with-a-844600-per-person-meeting/" rel="noopener noreferrer nofollow">Bitcoin</a> has been in a consolidation phase, forming a flag-like structure over the past few months. This pattern typically signals a continuation of the previous trend, suggesting a potential breakout. Jelle, a long-term investor, <a href="https://x.com/CryptoJelleNL/status/1818565338272874686" rel="noopener noreferrer nofollow">shared</a> his insights on the X platform, emphasizing the significance of this formation and the possible six-figure target for Bitcoin.<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcqL5xNgY_VQYIwpeXsN5HYkC15Liwkm6xmIFRrNTqOYXTTS4fr6zacXtvLeq164Iakhw5TeJz4FQq58zRiO2pMZZ4POmQjL0-Rgz2YvmDyt9hKUiXpl1tfRJ5uTrRkOOAfjlJk2RNm7nqrWTh5tblh89NF?key&#61;CBd_ZxyXFZvmuJprsRgd6w" />The consolidation pattern within two parallel trendlines sloping downwards is identified as a bullish flag. The flagpole represents the preceding sharp rally, while the consolidation within the flag suggests a temporary pause before a potential continuation. Notably, the upper boundary of the flag acts as resistance, and the lower boundary provides support. A significant support zone exists around the $57,000 level, reinforcing the structure&#39;s reliability.<a href="https://cryptotale.org/bitcoin-flag-pattern-hints-at-possible-breakout-towards-six-figure-target/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Bitcoin Flag Pattern Hints at Possible Breakout Towards Six-Figure Target

CryptoTale

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