The "Bull Flag" forms and investors' eyes are on $165,000!

💥 Bitcoin has risen to $108,200, up by 10%, after recovering from its lowest levels at $98,400, amid strong technical signals hinting at a big upcoming rise.

🔶 Technical analysis shows the formation of a "Bull Flag" on the daily chart, which is a bullish pattern targeting a 54% jump, meaning Bitcoin could reach levels of $165,000 if the breakout occurs.

📉 Conversely, Bitcoin flows in and out of exchanges have recorded their lowest rate in 10 years, with the rate declining to only 40,000 BTC per day, indicating that investors prefer to hold the currency in private wallets rather than engage in daily trading.

💡 According to Glassnode, the balance of Bitcoin on exchanges currently stands at 2.92 million BTC, the lowest level since 2019, which could lead to a liquidity squeeze and push prices higher.

💬 The question now is: Are we seeing a price explosion that drives Bitcoin to $165,000 soon? Or does the market need more time? Share your opinion 👇