The bearish flag pattern on Bitcoin Chart

What's in this article

Bitcoin one-hour chart is not enough to get into a lot of details however, it can tell many things in the short term when the market is volatile.

 Bitcoin price today is $33,437.76 USD with a 24-hour trading volume of $33,716,650,445 USD. Bitcoin is down 6.17% in the last 24 hours, with a market cap of $633,268,049,656 USD. It has a circulating supply of 18,938,712 BTC coins.   

Source: Tradingview

Bitcoin: Analysis

On hourly, as seen in the image, Bitcoin has formed a bearish flag pattern. Starting from $43,000 of January 20 to yesterday’s $34,000, Bitcoin bearish flag completes. If the breakout happens below the crucial support level of $31,8000 we might witness Bitcoin diving to $28,000 – the bottom of July 21 last year. Bitcoin has resistance at $37,000.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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