Bitcoin Surges 2% to Reclaim $100,000 Mark Amid Bullish Flag Pattern

Bitcoin has recently surged back above the $100,000 mark after a tumultuous week that saw it dip to $98,000, resulting in the liquidation of billions in leveraged positions. According to crypto analyst Ash Crypto, the daily chart now exhibits a classic bullish flag pattern, which is often seen as a continuation pattern indicating further upward movement in established uptrends.

The flagpole was formed during Bitcoin’s rapid ascent from $87,000 to over $110,000, and the recent consolidation has created a downward-sloping flag. This structure is typically viewed as a period of rest before the next upward leg. Ash Crypto noted that the imbalance at nearly $98K has been filled, removing excess liquidity and paving the way for a cleaner upward move.

This technical setup gains significance as market participants regain their risk appetite following a week of macro uncertainty and forced liquidations. With $100K reclaimed, traders are now watching for a breakout above the upper trendline, potentially targeting $110K and beyond.

From a technical standpoint, Bitcoin’s price prediction remains bearish below the psychological resistance level of $100,000. BTC’s recovery above $100,000 coincides with a bounce from the flag’s lower support. While the 50-day exponential moving average (EMA) near $102,600 continues to cap upward momentum, a clean daily close above it would offer early confirmation of a bullish breakout.

Key levels and technical signals that traders are watching include support levels at $100,000, $98,720, and $97,095, and resistance levels at $102,625 (50 EMA), $105,276, and $110,000. The pattern is identified as a bullish flag with a confirmed lower trendline bounce, and the MACD momentum is flattening, awaiting a crossover.

Market sentiment remains mixed. On lower timeframes, BTC has printed a sequence of lower highs and bearish rejections near the EMA. However, the daily structure holds stronger weight, especially as the market absorbs recent shocks. The near-term outlook hinges on whether BTC can break above the descending trendline and reclaim the 50 EMA on strong volume. Failure to do so may prompt another retest of the $98,000 region, where the last liquidity sweep occurred. But if buyers regain dominance, this flag pattern has the potential to play out into a breakout rally toward $110,000, fueled by sidelined capital and renewed confidence.

Potential trade setups include a bullish entry above $102,600 (confirmed daily close), targeting $105K–$110K, and a bearish risk with a breakdown below $98,720, which may expose $97K. Despite short-term choppiness, Bitcoin’s longer-term uptrend remains structurally intact. Analysts suggest that the ongoing consolidation is healthy after months of vertical gains and could set the foundation for a stronger third quarter.