Bitcoin hasn't confirmed a breakout yet

Bitcoin has formed a bull flag pattern on the hourly timeframe, which suggests a potential continuation of the strong bullish trend observed on the daily timeframe. Anticipating a bullish breakout from the bull flag formation, there is an expectation of a rally towards $32,000, pending confirmation. However, in the event that the price falls below the bull flag pattern, a retracement back towards $28,500 is likely.