March 9th Bitcoin Public Outlook
After reaching 71,675, the price formed a false breakout, accompanied by a bearish engulfing pattern, which is a typical liquidity washout move. Currently, the price is trading within a converging triangle zone (upper boundary at 71,670, lower boundary at 70,070). The range remains intact until a breakout occurs, maintaining a sideways consolidation pattern.
Upside: A volume-supported breakout above 71,670 confirms a rebound signal. If the hourly price stabilizes above 71,500, the next targets are 72,600-73,600.
Downside: A break below the triangle support at 6
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