Based

Bitcoin

Rare

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 Classical chart trader <a href="https://twitter.com/TechCharts/status/1679018479888867328" rel="noopener noreferrer nofollow">Aksel Kibar</a> has spotted a rare price formation for Bitcoin. The crypto trader highlights two chart patterns for the lead crypto asset and their potential price targets. 
 The first is a bull flag, which is often spotted in an uptrend, where the price is likely to continue upward. 
 <blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/search?q=%24BTCUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTCUSD</a> with its 2 chart patterns and price targets. I'm waiting for a breakout confirmation above 31.2K. <a href="https://twitter.com/hashtag/cryptocurrencies?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptocurrencies</a> <a href="https://t.co/SuwQO7iVoC" rel="noopener noreferrer nofollow">pic.twitter.com/SuwQO7iVoC</a>— Aksel Kibar, CMT (@TechCharts) <a href="https://twitter.com/TechCharts/status/1679018479888867328?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 12, 2023</a> 
 </blockquote> 
 In the case of a bull flag, a resistance break might lead to upside gains roughly the length of the pole. In this case, Kibar highlights the key price barrier to watch out for as he says he is waiting for a breakout confirmation above $31,200. 
 On the other hand, if the support level for the bull flag is broken, the pattern becomes invalidated, and continuation is unlikely. Based on the chart posted by the trader, the $29,500 level was highlighted as critical support. 
 Bitcoin recently resolved a head and shoulders pattern, which appears on a chart as three peaks, with the middle peak being slightly higher than the two sides, forming a head and two shoulders on the left and right. 
 This contributed to its rise past $31,000 in the past week. Per the chart posted by Kibar, Bitcoin is yet to reach the price target of the head and shoulders pattern, which is $34,000. 
 <h2 id="bitcoin-might-experience-volatile-move">Bitcoin might experience volatile move</h2> 
 The crypto market has gotten a little boring, with Bitcoin (BTC) settling into the tightest price range in weeks. 
 <blockquote class="twitter-tweet"> 
 The <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> 14-day Price Range remains extremely narrow, residing at a value of 4.6%, with only 1.9% (2167/113790) of trading hours recording a lower value.With Bitcoin rarely quiet for such sustained periods, the probability of a volatile move in either direction is enhanced. <a href="https://t.co/c9gpceZBVD" rel="noopener noreferrer nofollow">pic.twitter.com/c9gpceZBVD</a>— glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1678712876515618818?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 11, 2023</a> 
 </blockquote> 
 According to <a href="https://twitter.com/glassnode/status/1678712876515618818" rel="noopener noreferrer nofollow">Glassnode</a>, the Bitcoin 14-day price range remains extremely narrow, residing at a value of 4.6%, with only 1.9% of trading hours recording a lower value. 
 <a href="https://u.today/bitcoin-btc-price-builds-basis-for-move-to-34k-glassnode-co-founder" rel="noopener noreferrer nofollow">card</a> 
 With Bitcoin rarely being quiet for such sustained periods, the probability of a volatile move in either direction is enhanced, Glassnode further stated. 
 At the time of writing, Bitcoin was just up 1.02% in the last 24 hours to $30,697.
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Bitcoin (BTC) Eyes $37K as Crypto Trader Reveals Rare Price Formation

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