The recent five weeks of increases have not seen effective pullbacks; looking at the daily MACD, a pullback is imminent.
A drop from 83000 to 95000 will induce short positions and lead to a liquidation of shorts. I mentioned earlier that when the bullish volume weakened on the second bar, I said that the volume would continue to weaken until the MACD on the daily chart forms a death cross with negative volume bars.
However, before that, it is very likely that there will be one last temptation to push prices up and hit the stop-loss levels of the shorts before coming down. The 106200 level is the liquidation point for the bears; you can place a short position around 106200 (there is a chance it will reach this level).
For those following my short positions on Bitcoin, be sure to protect your capital at 104200.
