Lingrid | BITCOIN Preparing for NEW Bullish EXTENSION

BTCUSDT remains resilient, finding support at 67,000. As you will notice, a potential bull flag pattern is forming, reminiscent of the previous one. I believe this setup will eventually lead to a breakout and subsequent move higher as the overall trend remains bullish. A consolidation zone is forming just below the channel boundary, hinting at a potential breakout. If the market breaks out of this pattern, we could see new all-time highs. I expect a pullback to support followed by an upward surge that breaks the trendline. Confirmation of the continuation of the bullish trend will occur when the market breaks out of this pattern. My goal is the resistance level 71900.00.


Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Comment:

The price action is forming a triangle shape, a classic trend continuation pattern. We can observe the formation of lower highs and higher lows, indicating a narrowing price range. Typically, this pattern precedes a breakout and subsequent impulse movement in the market. As the price has reached the bottom of the triangle, I anticipate a price move upwards. Although there's a possibility that the market may continue to oscillate between 67,000 and 70,000, I believe it's preparing for a test of the resistance level at 75,000 or above. Nonetheless, I'm expecting the market to experience a more sideways movement, with the aim of closing the monthly candle above the key level at 69,000. My goal is resistance zone at 70,000