Bitcoin price has been consolidating since early March, failing to continue its uptrend, despite holding around $64,000 post the fourth halving.
On the 4-hour timeframe, BTC formed a descending channel above the $60K zone, while the daily chart indicates hovering inside a Triangle pattern.
A long wick candlestick formed on the daily chart during an event, possibly indicating market indecision.
A breakout above the descending channel could signal a bullish reversal, potentially ending the correction phase.
A successful rally above the channel might spark bullish sentiment, driving prices toward upper resistance levels.
Conversely, resistance from bears could escalate selling pressure, risking a drop below the crucial $60,000 support level.
According to Coin Gabbar analysis, #Bitcoin #Price Prediction 2030 suggests a surge to $250,000, while Bitcoin Price Prediction 2040 with a further impressive rise to $500,000.
KEY LEVELS :
RESISTANCE LEVEL : $65,200-$67,000
SUPPORT LEVEL : $63,000-$61,500
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