Bitcoin Prediction:Will Hong Kong ETFs Spark a Market Surge?

Hong Kong now offers live trading for Spot Bitcoin ETFs

• The market experienced a 2% surge following the introduction of spot Bitcoin ETFs in Hong Kong.

• #Bitcoin bounced back from $61,800 support, peaking at $64,700 before consolidating above $63,000.

• The price has remained range-bound between $61,000 and $65,000, reflecting a tense standoff between bulls and bears.

• A triple-top pattern has emerged around $70,000, with a neckline established at $60,000.

• BTC is currently hovering inside the Bullish Flag Pattern on the daily chart.

• Traders are eagerly awaiting the Federal Open Market Committee meeting scheduled for Tomorrow.

• Ongoing supply pressure might push $BTC down by 6.00%, testing the lower trendline of the pattern at $60,000.

• According to Coin Gabbar analysis, Conversely, if support holds, an upward correction towards $67,000 could signal the beginning of an uptrend.

KEY LEVELS :

RESISTANCE LEVEL : $64,000-$65,200

SUPPORT LEVEL : $62,400-$61,000

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.