Bitcoin’s $100K price target returns as BTC price breaks out of bull pennant

(BTC) looks poised to pursue a run-up towards $100,000 as its price breaks out of a classic bullish structure.

Dubbed as Bull Pennant, the setup represents a price consolidation period with converging trendlines that form after a strong move higher. It ultimately prompts the price to break out in the direction of its previous trend to a level typically at length higher by as much as the size of the initial large move.

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