BTC analysis for October 14,.2020 - Bull flag pattern on the 4H time-frame and potential for the rally towards $12.000

Further Development

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Analyzing the current trading chart of BTC, I found that buyers are still in control and that there is the bull flag pattern in creation based on the 4H time-frame.

My advice is to watch for potential buying opportunities with the take profit at the price of $12,000

The main cause of the most recent upside cycle on BTC was the breakout of the contraction and symmetrical triangle in the background.


Resistance: $12,000

Support level: $11,300



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Performed by Petar Jacimovic
Analytical expert
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