Bitcoin briefly tumbled below $50,000 earlier this week as the market saw the sharpest correction since the FTX crisis. The subsequent recovery, though, pushed the asset’s price above $57,000.
Despite the chaos in the broader market, bitcoin’s technical charts show a bullish flag, while on-chain data reveals rising buying pressure, reinforcing the bullish outlook.
Strong Bullish Forecast
According to the latest post by CryptoQuant, a promising bullish signal for BTC has emerged with the crypto asset forming an ascending flag pattern on technical charts since March this year. This classic pattern often precedes significant upward movements, suggesting that bitcoin might experience a breakout in the coming months.
Supporting this technical analysis, CryptoQuant’s Onchain NetFlow metric revealed a notable increase in buying pressure, further highlighting the growing demand for bitcoin. This alignment between the technical pattern and on-chain metrics reinforces the bullish outlook,
We współpracy z: https://cryptopotato.com/bitcoin-forms-bullish-ascending-flag-pattern-predicting-potential-breakout/
