Bitcoin is heading towards the $105K level with a Bull Flag pattern

Bitcoin is currently trading around $86.95K, and a classic bullish flag pattern forming on the 1-hour chart indicates that the price is ready to resume its upward movement. This chart pattern suggests a short consolidation period following a strong upward rally and has historically been a precursor to significant breakouts toward new highs.

Strong Signals for Technical Analysis

The RSI indicator is positioned at 61, showing that upward momentum continues without entering the overbought zone. In parallel, the ascending trend of the (EMA) ribbons confirms that the market is supported by strong buying interest. Volume profile analysis also indicates that the price may encounter minimal resistance until the breakout point.

What Are the Price Targets?

When applying the classic projection calculation for the bullish flag pattern—adding the height of the flagpole to the breakout point—analysts consider a more specific target of around $105,521, above the $105K level. The overlap of these levels with previous resistance zones and volume congestion areas demonstrates the technical significance of these targets.

What Are the Fundamentals Behind the Market?

The recent upward movement of Bitcoin is driven not only by technical factors. Increasing institutional investor interest, Bitcoin’s fixed and limited supply structure, and rising demand for safe-haven assets amid macroeconomic uncertainty all fuel this bullish sentiment.

Caution: This article is for educational and analytical purposes only. It does not constitute investment advice, and you should always prioritize your own risk management strategies.