Bitcoin’s recent price action is showing signs of stabilization, with technical analysts at MakroVision identifying a classic “bull flag” formation—a pattern that typically signals a continuation of upward momentum after a sharp rally.
According to the firm, the current consolidation is a healthy pause rather than a reversal. The critical resistance to watch in the near term is around $121,100, marked by a key Fibonacci retracement. A breakout above that level could ignite another leg up.
On the downside, support is found near $113,600, which aligns with the 0.382 Fibonacci level.
A retest of this zone would still fall within a normal corrective move. The firm emphasized that as long as BTC remains above $106,000, its medium-term bullish structure remains intact.
Should Bitcoin clear the $121K resistance, analysts say the next key targets lie at $129,600 and $133,800—levels tied to Fibonacci extensions that map out potential upside if bullish momentum continues.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
Source: https://coindoo.com/market/bitcoin-enters-bull-flag-pattern-as-analysts-eye-key-breakout-levels/