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
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
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