Bitcoin $72K target possible if V-shaped recovery pattern completes

Bitcoin’s post-CPI rally above $69,000 could help complete the V-shaped recovery chart pattern and also confirm that $60,000 was the sell-off bottom.

Bitcoin (BTC) charged above $69,000 on Friday as US CPI data showed cooling inflation, leading traders to hope for a short-term BTC price recovery.

Key takeaways:

Traders favor a short-term BTC price relief rally, but bulls must first take out the resistance at $68,000 to $70,000. 

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