Bitcoin price faced rejection at $49,000 resistance, leading to a significant decline.
A consolidation phase ensued, with support identified near the $41,500 zone.
Bitcoin traded within a defined range for nearly 4 days.
The 4-hour chart showcased an ascending flag, indicating a buyer-seller balance.
Current struggles persist as Bitcoin seeks to breach the $43,500 resistance.
A breakthrough above $44,000 could trigger a substantial recovery.
Coingabbar's analysis aligns short and long-term trends, hinting at a $40,000 target.
KEY LEVELS :
RESISTANCE LEVEL : $43,400-$44,000
SUPPORT LEVEL : $42,100-$41,500
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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