BTC Price Needs Another Dip Before Next Rally.

In the last four days, the Bitcoin price prediction showed a modest rebound from $59,840 to $62,344, registering a 4% growth. The bullish trajectory can be attributed to combined support for $60,000 and 200-day EMA and market easing from geopolitical tension in the Middle East.

However, this reversal lacks confirmation, and the price could revert to $60,000 seeking support. If the level holds, the BTC price could surge 7.7% and challenge the resistance trendline of the flag pattern. Since March 2024, this chart setup has carried a steady correction between two downsloping trendlines, providing dynamic resistance and support.

A successful breach of this resistance is crucial to trigger a prevailing rally and target a $80000 high.

On the contrary, if Bitcoin price breaks below $60 support or reverts from flag resistance, the sellers could accelerate the bearish momentum. The potential downfall could retest the $52,000 or $50,000 support.