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Bitcoin is currently consolidating in a bull flag pattern, indicating a potential upward push in price. The key level of $48,000 is within reach, with only an 11% price move needed. The overall trend for bitcoin in 2023 has been positive, and it is becoming increasingly likely that it will reach $48,000, or even $50,000, by the end of the year.Over the past three months, bitcoin has followed a pattern of moving up, consolidating sideways, and then moving up again. During this period, the price of bitcoin has risen by approximately 74%. While there have been short periods of consolidation within small triangle patterns or flags, the recent consolidation has shown that there is still significant strength in bitcoin.The rejection of BTC dominance from the top of an upwards leaning wedge pattern suggests that altcoins may start to regain prominence. However, this is a dynamic situation, and if bitcoin breaks out of its current flag pattern, altcoins may have to take a backseat for a while. Traders should exercise caution and manage their risk appropriately.Currently, bitcoin is approaching the bottom of its flag pattern again. If it breaks downwards, the next support level is around $42,000. It is important for traders to be cautious and manage their risk effectively.Disclaimer: This article is for informational purposes only and should not be considered as legal, tax, investment, financial, or other advice.