Bitcoin price has been consolidating below the $104,000 to $105,000 resistance zone, with traders anticipating a potential pullback to $90,000. However, analysts suggest that a bull flag pattern could lead to new highs if profit-taking weakens near the range highs. On-chain data indicates that the current profit-taking activity is insufficient to halt Bitcoin’s price momentum. A bull flag is a continuation pattern characterized by sideways price action following an uptrend, with the potential for the uptrend to resume when the structure breaks the trendline resistance. The recent surge in Bitcoin’s price was accompanied by significant liquidations in margin markets and substantial spot volumes, fueled by billion-dollar spot BTC ETF inflows over several days. Companies announcing Bitcoin purchases and treasuries further supported the bullish sentiment. Despite the recent cooling-off period, which is a normal post-rally phase, profit-taking in futures markets near the range high is expected. Short-term holder supply data indicates profit-taking but remains within statistical norms, leaving room for further upside. Analysts suggest that Bitcoin may test underlying support levels around $100,000 to $90,000 before a potential move higher. The order book is showing signs of support at $100,000, with bids moving lower. Analysts remain cautiously optimistic, with $90,000 being a crucial level for spot exposure. The overall sentiment is dependent on US equity market performance in the short term. This article provides insights into Bitcoin price movements and does not offer investment advice. Readers are advised to conduct their own research before making any investment decisions.