Bitcoin crosses $66K as traders eye 2 key indicators for $70K target
The Gann Fanns model and an emerging Inverse Head and Shoulders pattern are top of mind for traders to see if Bitcoin can “bounce” above its all-time high.
Bitcoin

$65,941
jumped 7.54% in the past 24 hours and pushed past $65,000 amid positive United States inflation data with traders now keeping an eye on two key indicators for a potential rise to $70,000.
Pseudonymous crypto trader Blockchain Mane told Cointelegraph they are closely observing the Gann Fans model — a key indicator which analyzes the geometric and cyclical movement of the crypto market — to see if Bitcoin can “remain bullish.”
“Gann Fans are interesting, almost like a time and price momentum indicator,” they said, explaining it helps to better visualize the market cycles and price action.
“In terms of Gan timing, we are at a pivot in the market cycle, directly in the center of the current square. if we pivot to the upside, then we can see a markup phase until the end of May,” they explained.
However, they warned, “if we lose this break then we will probably see the sideways, downtrend continuation until the end of May.”
