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Bitcoin Bullish Flag

Bitcoin Bullish Flag: is Bitcoin going to $50K?

Bitcoin was extremely Bullish last week and now as the week approaches, the chart exhibits another Bitcoin Bullish Flag. Bitcoin has gained more than 8.5% since March 27 and the experts believe there’s still more to come.

Bitcoin Bullish Flag
Source: TradingView

The Bitcoin price today is $47,145.84 with a 24-hour trading volume of $28,214,261,602 USD. Bitcoin is down 0.36% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $895,719,404,971.

Bitcoin Bullish Flag:

On the hourly chart, Bitcoin price is ranging between EMA 20, making lower lows and lower highs. Bitcoin is not making any volatile moves since March 28, which leaves a question if Bitcoin can make it to $50,000 any time soon? The steady position of Bitcoin is giving alts a go to rise. Bitcoin has formed a Bitcoin Bullish Flag on the hourly chart as shown above in the Chart.

Also read: Ethereum Bull Run Starts Now

Bitcoin has strong resistance at the previous high of $48,300 and $48,600. The steady position of Bitcoin is giving alts a go to rise. As far support is concerned, Bitcoin might dwindle to $46,400, fib 0.236, as a part of reversal, and then rise back to resistance.
Where do you see Bitcoin going in April? Any wild guesses?

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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