Key results:

• Traders expect that the Bitcoin price of up to USD 90,000, but the bull flag can break out to up-to-date peaks if they gain profits near the range.

• Data on the chain suggest that the current profit is too faint to extinguish the current price shoots.

The price of Bitcoin (BTC) has spent most of the week on USD 104,000 to USD 105,000, which many analysts marked as a retaining zone, but the alternative view suggests that BTC simply console itself in the bull’s flags.

The bull’s flag is a model of a continuation, which is characterized by the period of the price of the side after the acute remedies, and when the structure confirms or breaks from the resistance of the trend line, the leprosy persists.

While it is said that the commercial part of the flag represents indecision from buyers and sellers, in this scenario the lack of a volume of purchase is the main culprit. As shown in Trdr.io The chart below, the Bitcoin explosive movement up to USD 105,900 from 74,400 USD was accompanied by gigantic liquidation in marginal markets and solid point volumes, which equalized with several days of ETF outflow with a value of billions of dollars.

In this three -week period, several companies from the US and international also announced plans to buy Bitcoins and establish BTC Treasuries. Cumulative number of places and Delta Futures, along with open interest rates on the chart, which show traders selling near high range and the lack of a up-to-date long lever and point positions of a significant size in this area, while it drops to low range (service of bull flag) sees offers filled on the site, but there is still circumscribed utilize of the edges.

The recently Bitcoin cooling phase is a normal result after almost 40% recovery, which began on April 8, as well as the loss of the momentum resulting from bringing profits on Futures contracts near the current range, is also expected.

Bitcoin brief -term data on profits and losses from Glassnode support this view, as shown in the chart below. Onchain Data emphasized the profit on brief -term traders, but explained that it does not exceed the statistical standard, leaving space for an additional price.

“Recently, the volume of STH profit has increased to almost +3 standard deviations above its 90-day average, reflecting a significant increase in the implementation of profits. In previous cycles, especially during rallies towards ATH, this indicator has historically increased to more than +5 standard deviations more. This is more signaled.

Related: Bitfinex Bitcoin Longs in total USD 6.8 billion, and shorts are USD 25 million – time for BTC gathering?

Bitcoin should test basic support before passing above

With most of the apparent fluidity of Bitcoin sales absorbed during moving to USD 105,000, some analysts warn that a short rinse to test 100,000 to 90,000 USD, because support can be another BTC price movement.

Bitcoin market materials indicators he saidExcept for the “earnest catalyst”, […] BTC has a legal support test of $ 100,000, and Firecharts shows that the order book is preparation for this with asking arranging and auction below. ”

By sharing your view from X observers, the analyst Daan Crypto trades he said That most of the stubborn and bears of narrative with the potential of influence on the Bitcoin price “removed” and noticed that BTC Price was sticked, while the actions continued to accumulate after confirming the contract of President Trump in American Chinese trade.

The analyst stated that “90,000 USD remains my long -term line in the sand for exposure to the place”, adding that it is “carefully stubborn” with a price above 90,000 USD, but it depends on how American capital markets work in a brief period.

“I would not be surprised when seeing short -term rinsing if the reserves swept and reach a higher level. Considering that most of the shares moved by 30% to 50% in one month, it would not be crazy either.”

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.