Bitcoin bull flag and standard profit taking hint at eventual rally to new BTC price highs

Key takeaways: Traders expect a Bitcoin price pullback to $90,000, but a bull flag could break out to new highs if profit taking near the range highs reduces. On-chain data suggests the current profit taking is too weak to extinguish Bitcoin’s current price momentum. Bitcoin (BTC) price has spent the bulk of the week pinned below $104,000 to $105,000, which many analysts have labelled as a resistance zone, but an alternative view suggests that BTC is simply consolidating within a bull flag. A bull flag is a continuation pattern that is characterized by a period of sideways price action following a sharp uptrend, and when the structure confirms or breaks from the trendline resistance, the uptrend continues source: https://cointelegraph.com/news/bitcoin-bull-flag-and-standard-profit-taking-hint-at-eventual-rally-to-new-btc-price-highs?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound