From CoinTelegraph. May 16, 2025 8:57 pm:

Traders anticipate a Bitcoin pullback to $90,000, but a potential bull flag breakout could lead to new highs. On-chain data suggests current profit taking is not strong enough to halt Bitcoin’s momentum. BTC has been trading below $104,000 to $105,000, consolidating within a bull flag pattern. Indecision from buyers and sellers due to low buy volume is impacting Bitcoin’s price action.

During a three-week period, several companies announced plans to purchase Bitcoin and establish BTC treasuries, influencing trading patterns. Profit-taking in futures markets near the current range high is expected after a 40% recovery. Short-term holder data from Glassnode indicates profit taking for traders, but not exceeding statistical norms. Bitcoin may need to test underlying support at $100,000 to $90,000 before moving higher.

Analysts warn of a potential brief flush down to test $100,000 to $90,000 as support for Bitcoin’s price. Market liquidity indicators suggest a legitimate support test at $100,000, with the order book indicating asks stacking and bids moving lower. Analysts are cautiously bullish on Bitcoin, with $90,000 as a key support level dependent on US equity market performance in the short term.

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