Bitcoin has formed a bull flag pattern on the hourly timeframe, which suggests a potential continuation of the strong bullish trend observed on the daily timeframe. Anticipating a bullish breakout from the bull flag formation, there is an expectation of a rally towards $32,000, pending confirmation. However, in the event that the price falls below the bull flag pattern, a retracement back towards $28,500 is likely.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.