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.

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