Crypto analyst “Carl from the Moon” recently identified a promising bull flag pattern on Bitcoin’s weekly chart. If validated, this pattern could propel Bitcoin’s value to $40,000. A bull flag is a positive indicator in chart analytics, characterized by a sharp, upward trajectory followed by a shorter, consolidating phase. This consolidating phase is attributed to profit-takers halting the initial price rally, and the persistence of this pattern underscores ongoing market support.As of the latest data, Bitcoin had an uptick of 0.29%, positioning its value at $27,683. Bitcoin even grazed the $28,000 mark before retracing some of its advances. Negentropic, a co-founder of Glassnode, lauded Bitcoin’s commendable ascent at October’s onset, and data analytics firm Santiment highlighted that Bitcoin witnessed its most significant volume spike right after surpassing the $28,400 threshold.Overall, the crypto markets remain optimistic that Bitcoin will continue to rise, and investors can purchase Bitcoin quickly and securely with PayPal, credit card or bank transfer at eToro.

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Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	8
People	Carl from the Moon, Negentropic, Santiment
Companies	SEC, Santiment, Glassnode, Coinbase, FCA, CySEC, FINRA
Currencies	Ethereum, Bitcoin
Securities	None