Bitcoin (BTC) Price Prediction: Bull Flag Breakout Targets $97K – Momentum Builds January 12
Source: TradingView
The weekly chart reveals that once the $BTC price is able to break through the $94,000 horizontal level, two more steps at $101,000 and $108,000 would take it to the last leg up to the $126,000 all-time high.
So why wouldn’t the price just turn over and fall back through the major ascending trendline and down to $74,000/$69,000 and even lower?
Bitcoin is as beaten down as it gets, and has practically already hit lows that would be commensurate with the bottom of a bear market. The current rally isn’t just out of a deep bull market pull back, it is as though a bear market bottom has been made, and now we are in a disbelief phase as the price claws higher.
If a towering bullish green candle breaks out and stands on top of the ascending triangle, watch this market change in an instant. Bitcoin has had to take a back seat to gold and silver for quite some time now, but its own time is coming. It might be a glorious sight to behold when it does.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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