#Bitcoin is in an interesting position on the technical chart, showing a potential *reverse head and shoulders* (Hs) - a trend reversal pattern that indicates a possible major rally. This pattern consists of three consecutive lows, with the middle one (head) lower than the other two (shoulders). At the moment, the price needs to approach the $70,000 neckline to validate this tripartite, and a confirmation above this level could trigger a strong upward push.

The price target suggested by this pattern is around $74,000, a level that could attract the attention of traders and long-term investors. However, for this scenario to materialize, it is essential that Bitcoin retains its current support and continues to see increased trading volumes.