Bitcoin's price reached a new all-time high recently, fueled by optimism surrounding Trump's inauguration. However, caution is advised during times of high expectations. The asset has entered a bullish phase on the daily chart, breaking the $100K line and potentially heading towards $120K in the short term. The breakout above a falling wedge pattern on the 4-hour chart supports a new all-time high, but a rejection at the $108K level could lead to a reversal if the price loses the $100K support line. The netflow metric for Bitcoin exchanges indicates accumulation by investors, suggesting higher prices in the coming weeks.



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