As Q3 begins, the cryptocurrency market maintains its bullish momentum inherited from a strong Q2. Bitcoin, as the leading cryptocurrency, is showing positive results.
Current Situation in the Bitcoin Market
Bitcoin (BTC) finished Q2 with nearly a 30% gain and is currently hovering around $109,000. Despite a minor pullback, the market shows confidence in further growth.
Bitcoin Chart Analysis
On the 4-hour chart, Bitcoin appears to have broken through the resistance forming a bullish flag — a pattern typically followed by significant upward movement. This occurred after Bitcoin bounced from key support near $98,000 and reached a local high of $110,530.
Future Outlook for Bitcoin
If Bitcoin can hold the support at $108,500, this could signal a continuation of the bullish trend with a potential rise to a new all-time high around $146,000. However, if the price fails to hold, it may lead to more consolidation.
Currently, Bitcoin is displaying positive signals, but its future movement will depend on whether it can maintain key support. Investors are advised to monitor the development of new levels closely.
