$BTC Bitcoin just triggered a major short squeeze at $71,719.1, signaling renewed bullish momentum in the near term. Immediate support is at $71,200, while resistance sits near $72,000.

For VIP traders, tactical long entries near support may offer favorable risk-to-reward setups with tight stop-losses below $71,150. A decisive break above $72,000 could open the path to a next target around $72,500–$72,700, as buying pressure continues.

Market volume shows absorption of shorts, suggesting potential continuation of the upward move. Short-term volatility remains elevated, so careful position sizing and disciplined risk management are essential.