Bitcoin Price Prediction: Bitcoin Make-or-Break Scenario Unfolds

As sentiment wanes, critical $40k support buckles under growing crisis

• Bitcoin Price faced resistance above $43,500, marking a short-term peak in its recovery.

• The BTC price breached the crucial $41,500 support zone, entering a challenging phase for stabilization above $40,000.

• Bitcoin strives to stabilize above the critical $40,000 support level amid ongoing challenges.

• Despite attempts, the weekly closure couldn't surpass the previous week's $41,700 levels, contributing to current instability.

• Sellers, evident in the loss of the 50-day EMA and the 23.60% Fibonacci level, dominate the short-term trend.

• Coin Gabbar analysis reveals that, A breakdown of the rising wedge pattern hints at a potential downturn to $36,000.

KEY LEVELS :

RESISTANCE LEVEL : $41,400-$42,000

SUPPORT LEVEL : $40,300-$39,800

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