The price of Bitcoin seems to be losing correlation with ETF inflows and outflows, which is why BTC has remained on the sidelines for the past few days despite institutional adoption gaining momentum.
This has become a focal point for investors and analysts. A popular analyst who goes by Titan of Crypto on X recently shared their insights into Bitcoin’s current trajectory and potential future movements.
BTC to $60K?
According to the analyst, BTC is currently exhibiting a bullish flag formation with a target price of $61,000. The analyst points out that Bitcoin is undergoing a retest of the Tenkan indicator, observing that each time it approaches the $50.7k level, it experiences significant buying activity, as evidenced by candle wicks.
#Bitcoin Bull flag formation: target at $61,000#BTC is retesting Tenkan at the moment.
Each time it hits the $50.7k level it’s bought back. Look at the candle wicks.
– As long as Tenkan holds the potential bull flag formation is likely to play out
We współpracy z: https://cryptopotato.com/this-is-how-bitcoin-will-reclaim-60k-and-chart-new-ath-analysts/
