**Bitcoin Bear Trap Over, Analysts Eye Next Breakout**

Crypto market analysts believe the Bitcoin (BTC) bear trap has ended, signaling potential price surges ahead. A bear trap involves coordinated selling to create a temporary price dip, often during a long-term uptrend. Pseudonymous analyst Sensei suggests the recent correction was a shake-out, hinting at Bitcoin's imminent parabolic phase.

However, Nansen's principal research analyst, Aurelie Barthere, warns that Bitcoin's daily trend remains negative, with the 50-day moving average nearing a cross below the 200-day moving average. Bitcoin faces significant resistance at $62,000, a crucial level to breach before targeting $70,000 and beyond. Traders should stay cautious as market dynamics evolve.