Bitcoin formed a base near $50,500 before breaking past $55,000 and climbing above $58,000.
Bitcoin experiences its third consecutive bullish day, propelling its price past the $59,000 mark and swiftly approaching the significant $60,000 milestone.
Currently, on Wednesday, #Bitcoin is on a notable uptrend, trading around $58,500, reflecting a rise of over 4.00%.
Five consecutive green candles indicate a bullish surge in the market.
Strong buying pressure and bullish momentum are driving the uptrend, pushing the price above the upper boundary of a multi-month ascending channel.
$BTC is now trading above the 78.60% Fibonacci retracement level, signaling a bullish rally.
Bullish sentiments suggest potential further gains towards the $60,000 resistance level.
The bullish breakout of the inverted head and shoulders pattern, confirmed by a closing above $60,000, could propel Bitcoin's price to the $69,200 level.
According to Coin Gabbar analysis, #Bitcoin Price Prediction 2030 is $200,000, whereas Bitcoin Price Prediction 2040 will be around $500,000.
KEY LEVELS :
RESISTANCE LEVEL : $60,000-$61,200
SUPPORT LEVEL : $58,200-$57,000
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.
