Bitcoin

<p><a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin ($BTC) </a>is currently exhibiting a triangle bearish continuation pattern, with a target set at $71,200. As the cryptocurrency attempts to break out to the upside, some analysts, like technical expert Gert van Lagen, are questioning whether this movement is a <a href="https://x.com/GertvanLagen/status/1851564216483799333" rel="noopener noreferrer nofollow">potential </a>fake-out.</p><h2 id="header-0">Late Long Positions at $71,600 Could Impact Bitcoin Price</h2><p>Binance liquidation heatmap shows that there can be numerous late long positions with the leverage of $71,600. This could lead to some fluctuation in the market, due to the changing of the guards as traders respond to this important level.</p><p>However, there is an invalidation point for this bearish outlook that analysts have pointed out. If the price of Bitcoin is to rise above $73,000 it would eliminate the bearish view currently in place indicating a possible change in trend.</p><h2 id="header-1">Bitcoin Price Hits $72,273, Up 1.6% Amid Market Volatility</h2><p>Currently, Bitcoin price is around $72,273, it was up by 1.6% in the past 24 hours. This small increase has occurred amidst volatility, as traders pay attention to movement in price and the amount of liquidations.</p><p>As with most cryptocurrencies, key resistance and support levels are currently active and the next moves for Bitcoin will prove critical for short term traders, and long-term holders, according to technical expert Gert van Lagen. In the process of its formation, market participants will be waiting for confirmation or rejection of the current pattern.</p>

Bitcoin Shows Triangle Bearish Pattern with $71,200 Target Before Next Move Up

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