Analysis: The flag price pattern suggests that Bitcoin may experience a rise after the consolidation ends

ChainCatcher news, according to CoinDesk, on-chain data shows that Bitcoin's weekly MACD has been negative since April, but the Bitcoin price has remained in a slightly downward-sloping channel between $50,000 and $70,000, forming a "bull flag" pattern rather than a sharp downward trend, which contradicts the persistent MACD signals.

Indicator data shows that since the end of April, the MACD has remained bearish, coupled with the flag price pattern, suggesting that there is bullish sentiment beneath the surface price action. This indicates that sellers have failed to establish a strong downward trend, as even during the panic selling in early August, the price was only suppressed to between $55,000 and $50,000. The long-term weakness of sellers suggests that a bull market may suddenly revive, leading to a price increase.