Bitcoin News Today: Bitcoin Confirms Major Monthly Breakout Amid Bull Flag Activation

Bitcoin has confirmed a significant monthly breakout, reinforcing the activation of a multi-year bull flag pattern that is drawing attention from traders and analysts. The price movement has moved beyond key resistance levels that had previously acted as price ceilings, offering renewed optimism for continued upward momentum. The breakout has been described as a continuation pattern, with analysts highlighting the technical structure supporting the move [1].

The bull flag pattern, a common formation in technical analysis, typically signals a resumption of a prior trend after a period of consolidation. In this case, the pattern suggests a continuation of Bitcoin’s bullish phase. Analyst Merlijn The Trader, known for his focus on structural and cyclical patterns, has confirmed the breakout on the monthly chart and cited a primary price target of $250,000 as the top of the macro channel [1]. This projection is derived from the measured move of the pattern and is considered a long-term target based on current chart conditions.

Shorter-term price action has also drawn attention, with the price of Bitcoin recently reclaiming the $116,000 level after a series of dips that led to liquidations in the $113,000–$114,000 range. The filling of the CME Gap and the subsequent breakout from this area have restored bullish sentiment among traders. Doctor Profit, another well-regarded analyst, has noted that the market is preparing for a new all-time high, with a near-term target set between $140,000 and $145,000 [1].

The current price action aligns with broader macroeconomic conditions that are increasingly favorable for risk assets. Bitcoin’s capped supply and its role as a store of value in an inflationary environment continue to attract both institutional and retail investors. The activation of the bull flag pattern, combined with the prevailing market sentiment, suggests that the cryptocurrency may be entering a phase of sustained upward movement.

However, it is important to note that while the $250,000 price target is based on technical analysis, it remains a forecast and is subject to change. External factors such as regulatory shifts, macroeconomic data, and global market sentiment could influence Bitcoin’s trajectory in the near to medium term. For now, the breakout has been confirmed, and the bull flag remains active [1].

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[1] https://cryptonewsland.com/bitcoin-monthly-breakout-confirmed/