💰BTC UPDATE
As seen on the daily time frame, BTC is forming a bull flag and has already had a breakout. However, I think it will retest first. Once the retest is completed, the target will be $71,000-$73,000.
If we look at previous chart movements, BTC is currently following a very good pattern of price action. According to this price action, the next target will be bullish unless there is some negative fundamental news. For example, in recent days we had news of the Japanese crypto exchange DMM Bitcoin suffering a $305 million hack.
On the other hand, there is also positive news. For example, Australia's first spot Bitcoin ETF will start trading tomorrow.
If we look at BTC on a smaller time frame (4-hour TF), there is a trend breakout, but we still need a few more candles for confirmation.
SUMMARY: BTC IS MOVING TOWARD A BULLISH PHASE UNLESS WE HAVE SOME NEGATIVE FUNDAMENTAL NEWS.
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