Bitcoin

Bull Flag

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-trends-analyst-predicts-potential-new-highs/" data-wpel-link="internal">Bitcoin Price Trends: Analyst Predicts Potential New Highs</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/kripto-para-piyasasinda-dususler-ve-yukselisler-yasaniyor-bitcoin-ve-altcoinlerde-son-durum-ne" data-wpel-link="internal">Bitcoin</a> price</strong> reached an unexpected historical peak before the halving, leading everyone to speculate about the next possible levels. We can say that every coming day could be a new record attempt for <a href="https://en.coin-turk.com/the-current-state-of-cryptocurrencies-bitcoin-and-altcoins-experience-massive-sell-offs/" data-wpel-link="internal">BTC</a>. Now, an analyst has pointed out an important aspect and revealed his new expectation for the <a href="https://en.coin-turk.com/the-final-stretch-for-spot-bitcoin-etf-approval/" data-wpel-link="internal">Bitcoin</a> price. If realized, this would mean a new peak.</p> 
<h2 style="text-align: justify" id="is-bitcoin-breaking-the-bull-flag">Is Bitcoin Breaking the Bull Flag?</h2> 
<p style="text-align: justify">Before discussing the analyst’s comments, let’s briefly explain what a Bull Flag is. The Bull Flag is a chart formation commonly observed in financial markets. It generally indicates that the uptrend may continue. This formation emerges following the current bull trend and becomes more distinct with corrective movements.</p> 
<p style="text-align: justify">The formation that analyst Ali Martinez has pointed out is exactly this. According to the analyst, it seems like Bitcoin is breaking the bull flag on the 4-hour chart! If <strong>BTC</strong> stays above $70,000, the analyst suggests that it could reach an all-time high of $77,000, which is nearly a 10% increase.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-334303 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ali-coin-turk-com-.png" alt="" width="1892" height="873"></p> 
<p style="text-align: justify">I must say that Ali Martinez’s approach reflects the general sentiment expected in the market. The overall expectation for Bitcoin is that if the price stays above $70,000, it could easily move towards $80,000. Analyst Michael van de Poppe had also expressed such an expectation yesterday.</p> 
<h2 style="text-align: justify" id="where-could-bitcoin-price-head-next">Where Could Bitcoin Price Head Next?</h2> 
<p style="text-align: justify">After rapid increases, we are witnessing Bitcoin’s price moving indecisively within a range. This situation brings about volatile movements, causing investors in long and short positions to get squeezed. Consequently, liquidations worth millions of dollars can occur abruptly in the market.</p> 
<p style="text-align: justify">There is also a reflection of this situation for <a href="https://coin-turk.com/ne-litecoin-ne-shiba-inu-dikkat-edilmesi-gereken-bu-altcoin-hepsini-geride-birakti" data-wpel-link="internal">altcoins</a>. When the Bitcoin price follows a volatile path, altcoins do not show a clear direction. As <a href="https://coin-turk.com/dikkat-yuzde-500-artmisti-altcoin-icin-artik-dusus-baslayabilir" data-wpel-link="internal">altcoins</a> closely follow BTC’s movements, their prices fluctuate, making it difficult to determine a direction.</p> 
<p style="text-align: justify">In my opinion, if BTC moves sideways for a while, it seems likely to yield better outcomes for <strong>altcoins</strong>. Let’s see if BTC will maintain a sideways movement for some time and give a chance for the much-anticipated altcoin season to start.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-price-trends-analyst-predicts-potential-new-highs/" data-wpel-link="internal">Bitcoin Price Trends: Analyst Predicts Potential New Highs</a></h5>

Bitcoin Price Trends: Analyst Predicts Potential New Highs

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