w2314

The price of Bitcoin has stopped his upward move and is now in a bullish consolidation pattern. If this bullish flag pattern breaks to the upside (currently by rising significant above ~8770 USD) the continuation of the bull move is very likely. The target remains at the next Fibonacci retracement level at 9440 USD.

This is a plain and simple pattern. No need to complicate this. If BTC breaks the upside with quotes over ~8300 USD the bullish trend will continue (more likely). At least until ~9000-9400 USD If the unlikely scenario happens that BTC breaks to the downside (like ~7200 USD and lower) we'll see further falling prices.