Bitcoin is broken from the Orange Bull flag on the 1-hour graph. After consolidating within a tight reach, the breakout suggests that momentum changes back in favor of the bullAnd possibly the stage for a quick push in the direction of higher resistance levels.
Pullback or launchpad? What the next step of Bitcoin could look like
According to the last of Maxfinancial analysis On X he emphasized that a large green double bottom forms within an orange bull flag on the 1-hour graph, a bullish continuation setup.
Related lecture
The local high was a test of the trigger line of the double bottom, which indicated the intention of the bulls. BTC is the re-testing of the upper edge of the bull flag, tailored to the 1-hour 200-day MA, a critical dynamic support level that often determines the momentum in the short term.
Maxfinancial projects a small pink bullish Pennant forms and setting for a continuation of the movement higher. However, a rare diamond pattern can also take shape, a bearish reversal formation that, if validated, can cause a sharp disadvantage movement.
If BTC loses the 1-hour 200-day MA, he advises the shift from the focus to the 4-hour 200-day MA, which is the line of defense. The important bullish area goals are $ 113,700, $ 115,867, $ 117,030 and $ 122,143, while the Beararish Diamond Top Target is $ 103,079.
Market analyst A_Y has that too marked That Bitcoin consolidates under the resistance of $ 110,000 on the 4-hour graph, where the structure forms a textbook. This setup is the rising higher lows against horizontal resistance that precedes a strong outbreak.
If BTC succeeds in breaking above $ 110,000The move could accelerate to the range from $ 112,000 to $ 114,000, which marks a bullish trend. However, not breaking this ceiling can lead to a withdrawal to $ 104,000, where the previous question was discussed.
The relative strength index (RSI) is neutral, suggesting that there is space for Momentum to build, while the advancing average convergence -Divergency (MACD) shows a bullish crossover, which points to potential upward momentum, BTC still acts under the EMA, which means.
Bitcoin stable for $ 108,000 – market cooling, not crashing
In an update about X, also Chad_tattoosmd emphasized That Bitcoin shows resilience and keeps strong around the $ 108,000 level, despite the recent dip. BTC retains its structure and refuses to break lower, which is a sign of underlying buyer confidence.
Related lecture
The relative strength index (RSI) is on neutral 54, which indicates no extreme momentum in both directions. In the meantime, the stochastic (RSI) Overbought territory has entered and has now cooled, so that a potential withdrawal is removed in the short term. Nothing on the graph suggest A breakdown is available.
Chad_tattoosmd also points to $ 106,000 as the most important support, and $ 112,000 as the resistance, which stays in a tight zone on the graph.
Featured image of Istock images, graph of tradingview.com