VISI.NEWS | BANDUNG – Bitcoin’s price has slipped approximately 2.4% over the past 24 hours, hovering just above $115,000. Despite cautious sentiment among traders, technical indicators suggest that the cryptocurrency could be on the verge of a significant move. A key bullish pennant pattern could determine whether Bitcoin surges toward $150,000—or risks losing its upward momentum.
Fund Flow Ratio Signals Declining Sell Pressure
The Fund Flow Ratio, which compares the number of coins moved to exchanges against total on-chain transfers, has been steadily declining. In early July, the ratio reached 0.15 as Bitcoin approached $120,000, suggesting increased selling activity. But by July 28, it had fallen to 0.11, and at the time of writing, it stands at just 0.07. This downtrend indicates fewer coins are being sent to exchanges, hinting at reduced sell-side pressure and a potential supply squeeze if buyer demand rises.
Chaikin Money Flow Divergence Suggests Quiet Accumulation
On a 3-day chart, the Chaikin Money Flow (CMF) shows a bullish divergence—while Bitcoin’s price has formed lower highs since mid-July, CMF has posted higher highs. This indicates capital is flowing into Bitcoin even as the price consolidates. The choice of the 3-day timeframe helps smooth out short-term noise and suggests institutional interest may be quietly building. If CMF rises further from its current level of 0.11, it could confirm a bullish breakout.
Bullish Pennant Pattern Points Toward $150K Target
Technically, Bitcoin has formed a classic bullish pennant on the 3-day chart, following a 25% rally earlier this month. While recent breakout attempts have failed due to high volatility, the structure remains valid as long as Bitcoin holds above the $114,000 support level. A confirmed 3-day candle close above $119,000 could trigger a continuation rally, potentially pushing Bitcoin toward the $150,000 mark.
With selling pressure easing and capital inflows increasing, Bitcoin’s current price action is centered around a critical technical setup. If bulls can hold key support levels and confirm a breakout, a major upward move could be on the horizon.
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