#Bitcoin price encountered difficulty surpassing the $43,800 resistance level, initiating a subsequent decline.
Post the Federal Reserve's decision to pause interest rates, #Bitcoin underwent a 2% dip, reflecting diminished expectations for imminent rate cuts.
A detailed analysis of the 4-hour chart highlights a significant downturn below the lower boundary of an ascending flag pattern.
This downward trajectory guides the price towards a stable support zone, centering around $39,000.
Additionally, there's a potential interaction with the notable 0.5 level of Fibonacci retracement, suggesting a rebound possibility.
The 4-hour chart signals the formation of an inverted head and shoulders pattern, hinting at a potential trend reversal.
$BTC failure at $43,800 sparks worry, paving the way for a potential drop, eyeing $39,000 as a looming target soon.
As per Coin Gabbar analysis, $Bitcoin Price Prediction 2030 is $200,000, while Bitcoin #PricePrediction 2040 exceeds $500,000.
KEY LEVELS :
RESISTANCE LEVEL : $42,700-$43,500
SUPPORT LEVEL : $41,650-$41,000
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