#BinancePizza

Regarding the stagnation of the bullish momentum of BTC, the data analysis platform Alphractal noted that the re-test of BTC near the resistance levels of 106,000 dollars increased the likelihood of profit-taking risks. As illustrated in the chart, Bitcoin is currently approaching the 'Alpha Price' zone, where long-term holders or whales could take profits, according to Joao Wedson, CEO of Alphractal. From a liquidation standpoint, the risk of a long position 'squeeze' is also high, with over 3.4 billion dollars in leveraged long positions at risk of liquidation if prices drop to 100,000 dollars. This range could act as a magnet for the price, leading to a re-test near the psychological level. Bitcoin exhibits a bearish breakout from an ascending channel, with the risk of profit-taking near 106,000 dollars.

A lower-than-expected U.S. consumer price index (CPI) could boost Bitcoin, but a higher CPI may increase bearish pressure, leading to a price drop below 100,000 dollars.

The price of Bitcoin

BTC

91,440 €

reached an intraday high of 105,800 dollars on May 12, but recorded a 3% drop to 101,400 dollars during the New York trading session. In the low time frame (LTF) chart, BTC oscillated within an ascending channel pattern before showing a bearish breakout below the lower range of the pattern.