Bitcoin remains within a significant trading range, maintaining gains above the $50,000 support zone.
Currently, Bitcoin is confined within a narrow range, encountering resistance near $52,500 and finding support around $50,800.
Bitcoin surged towards the $53,000 resistance level but failed to sustain and traded below $52,000 levels.
Bitcoin price underwent a minor retracement, forming lower highs and lower lows, resulting in the creation of a bullish flag pattern on the daily chart.
Investors closely monitor the critical $50,800 support level, as a clear break below would shift market sentiment from neutral to bearish.
Bitcoin anticipates potential volatility preceding the release of the FOMC meeting minutes, which could induce significant price movements.
A bullish breakout from the chart pattern requires a daily candlestick close above the bullish flag, potentially aiming for psychological levels at $55,000 and $60,000.
As per Coin Gabbar analysis, #Bitcoin Price Prediction 2030 is $200,000, whereas Bitcoin Price Prediction 2040 is around $500,000.
KEY LEVELS :
RESISTANCE LEVEL : $52,400-$53,200
SUPPORT LEVEL : $51,300-$50,600
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