Bitcoin profit taking at $106K the first stop before new all-time BTC price highs
Bitcoin data suggests that potential profit-taking in the $106,000 range is likely to occur before BTC bulls attempt to set new all-time highs.
Key Takeaways:
Bitcoin exhibits a bearish breakout from an ascending channel, with the risk of profit-taking near $106,000.
A lower-than-expected US Consumer Price Index (CPI) print could boost Bitcoin, but a higher CPI may increase bearish pressure, leading to a price drop below $100,000.