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Key takeaways:<\/strong><\/p>\n Bitcoin’s 28% rebound from $75,000 faces resistance at $95,000, risking a bull trap.<\/p>\n<\/li>\n Strong spot price momentum and ETF inflows support a potential $100,000 push.<\/p>\n<\/li>\n Bull flag pattern suggests a $108,300 target if BTC breaks the $95,000 resistance.<\/p>\n<\/li>\n<\/ul>\n Bitcoin (BTC<\/a>) price has rebounded by 28% from its five-month low below $75,000 reached on April 9. However, its failure to break above the $95,000 resistance level<\/a> decisively has sparked concerns that the latest recovery may trap bulls.<\/p>\n But another big crash may be averted as BTC price momentum is backed by elevated spot Bitcoin ETF inflows<\/a> in recent days. <\/p>\n This provides Bitcoin a \u201cmore solid foundation\u201d to surge forward, according to market intelligence firm Glassnode.<\/p>\n As Bitcoin edged above $95,000<\/a>, its 14-day price momentum indicator rose sharply from 58.7 to 82.1, as shown in the chart below.<\/p>\n \u201cThis breakout pushed the momentum above the statistical high band, a rare occurrence that historically signals strong bullish momentum,\u201d Glassnode said <\/a>in its latest Weekly Market Pulse report.\u00a0<\/p>\n This indicator last crossed the statistical high band in November 2024, preceding a 61% rally in Bitcoin\u2019s price to new all-time highs<\/a>.<\/p>\n Glassnode, however, warns that such high momentum also increases the likelihood of short-term cooling periods, explaining BTC\u2019s current choppy price action<\/a>.<\/p>\n The onchain data provider added:<\/p>\n \u201cSustained strength will require spot volume and demand to remain positive.\u201d<\/p><\/blockquote>\n Meanwhile, Bitcoin\u2019s spot Cumulative Volume Delta (CVD) metric, which tracks the difference between taker buyers and sellers, remains close to the statistical high band despite a modest pullback over the last few days.<\/p>\n The high CVD metric suggests that the buy pressure is \u201cstill relatively strong,\u201d Glassnode said, adding:<\/p>\n \u201cThis persistent positive aggression supports the bullish momentum seen in spot markets, although the slight softening hints that some profit-taking activity may be emerging as the price extends into higher ranges.\u201d<\/p><\/blockquote>\n Bullish signs are also emerging with the Hot supply rising higher<\/a> and profitability metrics such as supply in profit (currently at 86%) expanding significantly. This signals a change in market sentiment favoring the upside, reducing the possibility of a major crash.<\/p>\n Bitcoin technicals show it remains within a bull flag<\/a> pattern, which puts it in a good position to break out if key support levels hold.<\/p>\n The flagpole pattern developed after price climbed from $84,000 to a seven-week high of $95,857 between March 3 and April 25.<\/p>\n Related: <\/strong><\/em>Bitcoin price always rallies at least 50% after these two patterns emerge<\/strong><\/em><\/a><\/p>\n Now BTC is consolidating within a descending parallel channel, testing overhead resistance levels for the past few days, including the upper boundary of the flag at $95,000.<\/p>\n A breach of this level could trigger another upswing. The bull flag\u2019s target, derived from the height of the previous ascent, is approximately $108,300, representing a 14% increase from the current price.<\/p>\n\n
Bitcoin ETF flows provide a \u201cmore solid foundation\u201d<\/h2>\n
Bitcoin bull flag hints at $108,000<\/h2>\n