Lokesh Gupta
20-04-2024
#Bitcoin price has been consolidating since early March, failing to continue its uptrend, despite holding around $64,000 post the fourth halving.
On the 4-hour timeframe, $BTC formed a descending channel above the $60K zone, while the daily chart indicates hovering inside a Triangle pattern.
A long wick candlestick formed on the daily chart during an event, possibly indicating market indecision.
A breakout above the descending channel could signal a bullish reversal, potentially ending the correction phase.
A successful rally above the channel might spark bullish sentiment, driving prices toward upper resistance levels.
Conversely, resistance from bears could escalate selling pressure, risking a drop below the crucial $60,000 support level.
According to Coin Gabbar analysis, #Bitcoin #Price Prediction 2030 suggests a surge to $250,000, while Bitcoin Price Prediction 2040 with a further impressive rise to $500,000.
KEY LEVELS :
RESISTANCE LEVEL : $65,200-$67,000
SUPPORT LEVEL : $63,000-$61,500
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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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