Bitcoin has traded in a tight range for nearly 50 days – but this is not a "bear flag"
CoinDesk
Bitcoin's nearly 50-day tight trading range signals structural consolidation, not a typical short-lived bear flag pattern.Summary
Bitcoin has been trading in a tight range, mostly between $65,000 and $75,000, since early February, leading some to label this prolonged sideways action a "bear flag." However, analysts argue this is incorrect because standard bear flags are short-lived pauses that resolve bearishly, whereas this consolidation has lasted nearly 50 days, indicating market indecision and an even balance between bulls and bears. Furthermore, the current market structure is fundamentally stronger than in 2022; in contrast to the near-vertical 2020-2021 surge followed by a deep 2022 retracement, Bitcoin spent most of 2024 building a strong base around $50,000 to $70,000, evidenced by significant accumulation in this region.
(Source：CoinDesk)