Bitcoin Price Analysis: BTC/USD flying and defying odds, as deadly bear flag is erased for now

Bitcoin price on Friday is very erect, holding solid gains of over 3%, as the wind remains behind the bulls.
BTC/USD bulls managed to break above a chunky area of resistance, which was originally formed a bearish flag pattern.
Heavy supply zone tracking from $6500-600 area has been cleared by the bullish momentum on Friday.

Ken Chigbo Independent Analyst

The Bitcoin price saw strong decent gains early on Friday, after it spiked some 3%, with the wind remaining behind the bulls. Life has been kicked back into the crypto market, after the plummet earlier in the month.

BTC/USD price action had formed a large bearish flag pattern, which appeared to summon Bitcoin to another chunky drop to the south. However, a breakout has been seen in the session, clearing the heavy resistance area, running from $6500-600.

Technically, given the recent failure of the rather large bearish set up seen for BTC/USD, the price looks subject to some further buying pressure. The clearance of supply zone mentioned above, paves the way for $7000 to come back into play. Bitcoin is taking a breather around plummeting levels seen on 6th September, where the price took a moment before another deep drop, resistance seen around $6700-50. Support will now be eyed at the broken supply $6600-500, to act as new demand area.

BTC/USD 60-minute chart

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).

Sberbank issues Russia's first corporate loan backed by Bitcoin

Russia's largest bank Sberbank launched the country's first Bitcoin-backed corporate loan to miner Intelion Data. The pilot deal uses cryptocurrency as collateral through Sberbank's proprietary Rutoken custody solution.

Bitcoin recovers to $87,000 as retail optimism offsets steady ETF outflows

Bitcoin (BTC) trades above $88,000 at press time on Tuesday, following a rejection at $90,000 the previous day. Institutional support remains mixed amid steady outflow from US spot BTC Exchange Traded Funds (ETFs) and Strategy Inc.’s acquisition of 1,229 BTC last week.