<ul><li>Bitcoin has re-entered a bullish wedge pattern, indicating a potential breakout to new highs, according to trader Merlijn The Trader.</li><li>Technical analysis suggests a breakout towards the $110K-$116K range, following recent price consolidations and a bear trap behavior flushing out weak hands.</li><li>Bitcoin is currently trading at $104,986, up 1.46% with a market cap of $2.08 trillion, showing resilience despite muted trading volume.</li><li>Investors are shifting focus towards high-conviction assets like Bitcoin and Ethereum, with tightening supply and bullish on-chain metrics potentially propelling Bitcoin to the next level above $105K.</li></ul>

Bitcoin: What’s Next After Price Reclaims $104,500?

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