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Bitcoin Faces $72,000 Supply Wall as Head and Shoulders Pattern Threatens Drop Toward $50,000
Bitcoin has pushed above $70,000 and briefly reclaimed $73,000, but price action is now testing a dense resistance band between $71,800 and $73,000 that has repeatedly halted rallies. Technical analysts warn that failure to close above $73,500 and ultimately $74,500 could validate a large Head and Shoulders reversal pattern with downside projections toward the $50,000 area, even as ETF inflows and mixed macro sentiment pull the market in opposing directions.