Bitcoin's Bullish Flag Pattern Suggests 15% Price Breakout
2min read Bitcoin has recently exhibited signs of a potential price breakout, as indicated by a bullish flag pattern on its daily chart. This pattern, characterized by a strong upward move followed by a consolidation period, suggests that the cryptocurrency may be poised for further gains. The bullish flag pattern is a technical formation that often signals a continuation of an existing uptrend, and its presence on Bitcoin's chart has led analysts to predict that the cryptocurrency could be on track to test a decisive zone between $96,200 and $102,100.
Ask Aime: What is the potential impact of a bullish flag pattern on Bitcoin's price?
The bullish flag pattern is not the only indicator suggesting that Bitcoin may be ready for a breakout. Analysts have also noted that the cryptocurrency has broken out of a falling wedge pattern, which is another bullish reversal formation. This pattern is characterized by converging downward trend lines, and when the price breaks above the upper trend line, it typically signals the exhaustion of selling pressure and a potential shift toward buying momentum. The combination of the bullish flag pattern and the falling wedge pattern has led some analysts to set a potential target of $102,000 for Bitcoin.
In addition to these technical indicators, on-chain data suggests that there has been strong accumulation activity at critical price levels. Over 40,000 Bitcoin have been accumulated at the $79,000 support level, and the market has also successfully worked through a larger cluster at $82,080, where roughly 51,000 BTC had accumulated. These levels of accumulation often act as strong support in technical analysis, and if Bitcoin is able to hold above these levels, it could accelerate its upward momentum.
The current technical setup comes after Bitcoin has experienced substantial volatility in recent months, primarily influenced by broader macroeconomic factors. However, the underlying accumulation patterns suggest that institutional and retail investors continue to view price dips as buying opportunities. On-chain data further supports this view, as long-term holder supply reached historic levels despite the recent price correction. This shows confidence in Bitcoin’s long-term value proposition among investors with historically low time preference.
If Bitcoin confirms the breakout from its multi-month downtrend as analysts suggest, the next major resistances beyond $83,500 would likely appear at the $90,000 psychological level and the $100,000 threshold. These levels have historically acted as significant barriers to price movement, and if Bitcoin is able to break through them, it could signal a new phase of upward momentum for the cryptocurrency.
Cryptocurrency analyst Titan of Crypto expressed a bullish view on Bitcoin, predicting that Bitcoin will surge to a new all-time high of $137,000 in July to August 2025. The analyst pointed out that a bullish flag pattern has formed on the Bitcoin daily chart, and the price may break out to higher levels. However, before considering a long-term investment, Bitcoin needs to break above and sustain above its 200-day moving average. If it can regain its footing above each moving average on higher time frame charts, this may further strengthen the bullish outlook, giving Bitcoin a chance to retest its six-figure target.
