Bitcoin Price Poise For Major BreakOut, Top Analyst Aims For $86k 

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Bitcoin (BTC) enthusiasts have their eyes set on a potential bullish breakout as the cryptocurrency forms a notable pattern on the daily timeframe chart. Renowned analyst Captain Faibik suggests that BTC is currently shaping a bullish flag pattern, if the breakout happens Bitcoin price will see a new all-time high, potentially reaching $86,000.

Bitcoin Forms Bullish Flag Pattern

Bitcoin, the flagship cryptocurrency, is showing signs of a bullish flag pattern on its daily timeframe chart. However, the chart shared by Captain Faibik highlights the bullish flag formation, with clear upward and downward trendlines converging to create a flag-like pattern. 

If Bitcoin manages to break out above the upper trendline of the bullish flag pattern, analysts anticipate a significant price surge. The potential upside breakout could propel Bitcoin to achieve new record highs in the coming month. 

Bitcoin Eyes For $86k

According to Faibik’s price prediction chart, Bitcoin is anticipated to surge to approximately $74,000, testing its resistance level in the process. However, there might be some corrections along the way before Bitcoin ultimately reaches a new all-time high of $86,000. 

Breakout in Ascending Triangle

However, Crypto Rover, a prominent crypto analyst, shares a bullish outlook on Bitcoin, emphasizing the cryptocurrency’s breakout from an ascending triangle pattern.

According to Crypto Rover’s technical analysis, Bitcoin’s price movement suggests a bullish momentum post-breakout. The ascending triangle pattern considered a bullish continuation pattern, indicates the potential for further price appreciation.

As of now, Bitcoin is trading at $66,400, reflecting a 1.9% increase over the last 24 hours, while its market cap hovers around $1.3 trillion.