Bitcoin price has consolidated above $50,500, indicating robust buying interest.
Surging to its highest value in over two years, Bitcoin reached $57,000, marking a significant resurgence in market trajectory.
Bitcoin experienced a surge of over 10%, exceeding $57,000 and breaking free from a twelve-day period of stagnant trading.
Breaking out of a 15-month Ascending Channel, Bitcoin signaled a potential shift in market sentiment.
Following its peak, Bitcoin retraced slightly and maintained a range between $55,500 and $56,500.
Showing indications of a strong upward trend, Bitcoin appeared poised to challenge the $60,000 resistance level.
Moving averages and the relative strength index support bullish momentum, confirming Bitcoin's upward trajectory.
If Bitcoin trades below $56,000, profit booking may occur towards $55,000-$53,000.
According to Coin Gabbar analysis, #Bitcoin Price Prediction 2030 is $200,000, whereas Bitcoin Price Prediction 2040 is around $500,000.
KEY LEVELS :
RESISTANCE LEVEL : $57,200-$58,000
SUPPORT LEVEL : $56,000-$55,000
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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