#Bitcoin's price has surged past all moving averages and the Ichimoku cloud, reinforcing bullish momentum.
A bullish pattern known as a "rounding bottom" has emerged upon analyzing the daily chart.
The breakout above the $70,000 resistance level, after multiple attempts, signals a robust rally.
$BTC is currently consolidating above $70,000 and shows potential to breach the $72,000 mark.
After a 5-day consolidation period, a bullish candle on the 4-hour chart suggests a breakout from consolidation.
If #Bitcoin closes above $70,000 successfully, the next target could be $1,250,000, as per the rounding bottom pattern.
However, the $75,000 milestone could pose a significant psychological resistance for Bitcoin's bull rally.
According to Coin Gabbar analysis, Bitcoin Price Prediction 2030 is forecast to be $250,000, with Bitcoin Price Prediction 2040 achieving $500,000.
KEY LEVELS :
RESISTANCE LEVEL : $72,500-$75,000
SUPPORT LEVEL : $70,000-$67,500
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.
