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Bitcoin Forming a Bullish Retest of the Bull Flag

Bitcoin is trending for a red week and has spent the majority of the time trading near the upper range of the bull flag. I think Bitcoin is forming a successful retest of the bull flag resistance level around $67.7k. While there has been little upside this week, this bull flag retest looks very bullish for the next few weeks and months. As long as the bullish weekly candle close remains above $67.7k we can see some strong upside next week.

Sharp selloff for Bitcoin over the past 2 hours. I’m waiting for a rebound back up. Seems like some continued back and forth around the green resistance level. Bulls want a weekly candle close above the green resistance line.

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