Lokesh Gupta
30-04-2024
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
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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