Bitcoin (BTC) has recently broken through the top of its bull flag formation. This breakout indicates a potential continuation of its upward momentum.
Currently, Bitcoin is consolidating above the breakout level. This phase of consolidation often precedes further price movements, either continuation or reversal.
Market participants are keenly observing whether Bitcoin will surpass its last swing high at $70,000. However, there is also caution surrounding the potential exhaustion of bullish momentum.
The consolidation phase will be critical in determining Bitcoin's next move, as traders analyze market signals for future price action.
