#Write2earn #Bitcoin Eyes $67,000 Breakout: Is the Bull Run Just Beginning? #BitcoinAnalysis $BTC #Bitcoin❗

Bitcoin has closed higher than its previous four weekly candles, pushing against the $67,000 resistance level and signaling potential upward movement.

Is Bitcoin Consolidation Ending?

Bitcoin might be ready for a breakout after ten weeks of sideways accumulation and consolidation. Last week's 7.7% rise wiped out the past four weeks of fluctuating prices, indicating a potential end to the stagnation.

Stock Markets and Economic Outlook

Major stock markets have hit all-time highs as liquidity flows into the system, despite the Federal Reserve keeping rates unchanged. With a bleak economic outlook, rate cuts could happen sooner rather than later, further supporting Bitcoin’s rise.

Spot Bitcoin ETFs Show Positive Inflows

A full week of positive inflows into Spot Bitcoin ETFs has given Bitcoin’s price a boost. Last week saw a total inflow of $948.3 million, a significant improvement after mostly negative inflows since mid-March.

Resistance Battle

Bitcoin is holding strong at support levels of $65,500 and $66,000. The next challenge is to break through the strong resistance at $67,000.

Bitcoin Breaks Through Bull Flag

Crucially, Bitcoin’s price has broken through the top of the bull flag. If it stays above this level and the $65,500 support, which dates back to the end of 2022, we could see further gains. The measured move target for this bull flag breakout is around $91,000, with the 1.618 Fibonacci level pointing to $102,000. Both targets could be reached in the coming months, especially if the momentum from Spot Bitcoin ETFs continues.