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The Pattern in the picture above is a bullish flag pattern. This pattern is of high quality and we plan to take advantage of it on the Bitcoin chart where we are seeing it play out on the 15 minutes timeframe.
Right now, the Bitcoin price has broken through this flag pattern and retested it. This is very bullish for the Bitcoin price and it signifies that we might see a price surge soon!
If this 15 minutes flag pattern plays out like the examples we saw above, We might see the Bitcoin price rally upto 10% to around the $36k price region in the coming days.
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Key Levels To Watch!
The key support to watch would be the base channel of that flag pattern. We want to see the Bitcoin price continue to trade above this support region for this bullish prediction to remain valid.
If this support holds, we can expect to see bullish momentum begin to build in the Bitcoin price as it gets ready to break to the upside.
Key Resistance
For key resistance, the first resistance we might face in the coming days would be the previous highs around $32k. This horizontal level has held the Bitcoin price back on numerous occasions and might do so again.
A break of this resistance is a very bullish indication for Bitcoin and confirms our bullish bias for the cryptocurrency.
Once this $32k horizontal resistance gets broken, our next target would be the $36k bullish target for the completion of the Bitcoin flag pattern.
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