Bull Flag Formation Formed in Bitcoin! How Many Dollars is the Target in BTC?

Will Bitcoin rise to $100,000 levels soon?

The leading cryptocurrency Bitcoin (BTC) has been exhibiting bearish movements recently. BTC, which experienced sharp declines after the Israel-Iran conflicts, has still not managed to recover even though these conflicts ended a while ago.

Although Bitcoin's movements cause crypto investors to move away from the sector, popular cryptocurrency analyst Milkybull thinks that new rises will begin soon in BTC:

“Bitcoin is forming a bullish formation again on the daily chart. According to Wyckoff's law of cause and effect, 'the longer the consolidation, the more explosive the price increase will be.'

Zivoe's financial analyst and head of product Denis Baca said that a bull formation has formed in Bitcoin and gave the following words:

“We see a bull flag on Bitcoin's daily chart, which has historically signaled further upside. It's shaping up nicely after a solid rally; “Decreasing volume suggests a pause before potentially rising towards $100,000.”

Stating that this latest process is a pause before the sharp rise to 100 thousand dollars, Baca believes that there will be sudden increases in BTC in the coming days.