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
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