The post Bitcoin Technical Analysis Reveals ‘Bull Flag’ Hinting at Price Boom to $140K appeared on BitcoinEthereumNews.com.

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin’s price chart is showing a well-formed “bull flag,” suggesting a potential breakout to new lifetime highs consistent with some traders’ expectations for a price rally to $140,000 and higher. BTC surged to a record high of nearly $111,900 from around $74,700 over the course of the six and a half weeks ended May 22, and has since traded in a mildly descending range, forming the bull flag, according to charting platform TradingView. The flag is identified by trendlines connecting the highs hit on May 22 and June 9 and the lows reached on June 5 and June 22. Meanwhile, the pole is represented by the initial surge. A move above $109,000 is needed to confirm the bull breakout, which would open the door for a rally to $146,000. The level is calculated by adding the length of the pole —the initial surge — to the breakout point, using a method technical analysts call a measured move. A bull flag pattern represents counter-trend, low-volume consolidation within a narrow range, preceded by a sharp increase. The consolidation tends to be smaller in magnitude and duration than the preceding rally, helping to relieve short-term overbought conditions and recharge the bulls’ engines for the next leg higher. “Flag formations occur over a short period — usually a few days to few weeks,” Charles D. Kirkpatrick wrote in his book, Technical Analysis: The Complete Resource for Financial Market Technicians. “Volume usually declines throughout the formation of the flag.” “[However], it is important to be cautious to make sure that a complete formation has occurred and to wait for the breakout,” Kirkpatrick noted. BTC’s bull flag. (TradingView/CoinDesk) Flags are continuation patterns, and so the consolidation is expected to resolve in…

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Filed under: News - @ June 26, 2025 5:27 pm