Bull flag breakout will decide whether Bitcoin price goes to $16K or $14K

Bitcoin price (BTC) appears to be taking a short breather after reaching a new 2020 high at $15,960 on Nov. 5.

The 1-hour and 4-hour timeframe show the price compressing within a flag and throughout the majority of the trading day, the $15,500 level has held as support. $15,750 is the level Bitcoin needs to break in order to pursue another stab at $16,000. 

BTC/USDT 4-hr chart. Source: TradingView

Within the last hour, a dragonfly doji candle formed as the price swept low to test the lower…

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