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Bitcoin Price ‘Breakout’ Was Fake, and This $62,500 Level is Back in Focus

2026-07-16 14:38:40

Bitcoin traders got caught on both sides of the same trap this week, according to one chart analyst tracking the recent price swing, and the fallout is exposing exactly which level really matters right now. Bitcoin had been consolidating inside a triangle pattern for days. When price finally broke toward the upside, traders piled into long positions expecting a clean continuation higher.

BTC-1.62%

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