TechFlow news, February 17 — According to an article by Coingape analyst Akash Girimath, Bitcoin has currently broken out of a rare expanding triangle technical pattern. There is significant liquidity concentration around the $100,000 level, which could become a key resistance zone for Bitcoin's price.
The analyst noted that if Bitcoin successfully breaks above the $100,000 mark, it may trigger short covering, further driving prices upward. From a technical perspective, the target price range following a breakout above the expanding triangle's upper boundary could be between $270,000 and $300,000.
Meanwhile, the analyst also warned investors to remain cautious of risks such as false breakouts, liquidity traps, and macroeconomic policies. Factors including Federal Reserve policy, capital flows into spot Bitcoin ETFs, and regulatory changes could all impact Bitcoin’s future performance.
