Bitcoin profit taking at $106K the first stop before new all-time BTC price 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. Bitcoin (BTC) price reached an intraday high of $105,800 on May 12 but posted a 3% dip to $101,400 during the New York trading session. On the lower-time frame (LTF) chart, BTC oscillated between an ascending channel pattern before exhibiting a bearish breakout below the bottom range of the pattern source: https://cointelegraph.com/news/bitcoin-profit-taking-at-106-k-the-first-stop-before-new-all-time-btc-price-highs?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound