#Bitcoin has maintained a sideways trend around $73800 for the last two months, encountering notable supply pressure.
Recent market movements have observed heightened bearish sentiment, resulting in $BTC price dropping towards $61,300 amidst geopolitical tensions between Israel and Iran.
Despite this decline, the presence of a long tail on candlestick charts suggests bullish defense at the $60,000 support level.
A recent occurrence of a triangle fakeout triggered substantial drops in Bitcoin's price, activating numerous stop losses among traders.
#Crypto market experienced a volatile weekend with notable liquidations, but swiftly rebounded at the week's start.
If bulls push Bitcoin's price within the triangle formation, it could spark bullish sentiment, potentially driving prices higher towards upper resistance levels.
If bears successfully resist the rally, it could escalate selling pressure, risking a drop in #Bitcoin's price below the crucial $60,000 support level.
According to Coin Gabbar analysis, Bitcoin #Price Prediction 2030 anticipates a surge to $250,000, while Bitcoin Price Prediction 2040 will reach an impressive $500,000.
KEY LEVELS :
RESISTANCE LEVEL : $68,000-$70,000
SUPPORT LEVEL : $65,000-$63,500
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.
