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After reaching a local high of around $82,800, the $BTC price has suffered a 4.25% fall, losing the major $80,600 horizontal support level, and pulling back to the top of the bear flag which was strong enough support to stop the rot. As Bitcoin continues its bounce, could $85,000 be the next higher target?
Having broken out of its bear flag on Monday, the $BTC price is starting to hold above this crucial formation. The price needs to spend more time above the flag before the breakout can be official. If this happens, how far could Bitcoin rally from here?
The Bitcoin bulls have broken out of the bear flag on Monday and have tested $80,000. Is this a firm foothold for the price so the bulls can push on higher, or is this just the last dregs of a rally that is just about to run out of steam?
