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Analyst: BTC breaks above $87,000, buying momentum turns positive, but the falling wedge pattern may form a whale trap.
According to Jinse Finance, after Bitcoin broke through $87,000, the buying momentum has turned positive in the past 24 hours. However, crypto analyst Xanrox pointed out that the ongoing falling wedge pattern (often seen as a bullish indicator) could actually be a trap meticulously designed by whales. Some institutional investors are likely using this wedge structure mechanism to influence price movement, which requires retail investors to create enough volume for them to sell or increase their positions. If the whale trap is established, Bitcoin may fall to the $67,000 range before experiencing a strong rise.