Bitcoin Technical Analysis 27.01.2024.Bull Flag is Active Again

Bitcoin is showing signs of resurgence, re-entering a bullish trend. Candle 1 broke above the yellow trendline, initiating a sharp retracement. However, this breakout failed to be retested, indicating that it was a false breakout.

As a result, the next four candles, including Candle 2, absorbed the entire Candle 1. We are now back on the bull flag pattern. If this pattern is confirmed next week, we could soon see prices reach the levels of 48,000 and 52,000.