As the bitcoin market continues to exhibit signs of consolidation following a dynamic start to the year, industry observers are closely monitoring key indicators to gauge the cryptocurrency’s future trajectory. Despite hovering near its all-time highs, bitcoin has struggled to maintain crucial support levels in recent trading sessions. Renowned analyst Ali Martinez recently highlighted a potential head-and-shoulders formation on bitcoin’s 30-minute chart. Martinez suggests that if bitcoin manages to sustain its position above the 200EMA and surpasses the neckline resistance at $71,580, it could signal a bullish trend reversal. In such a scenario, investors could anticipate a potential price increase
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