Lokesh Gupta
19-03-2024
Bitcoin surged to an all-time high near $73,800 but faced significant selling pressure afterward.
$BTC struggled to surpass the $69,000 resistance level. Currently, Bitcoin is moving lower with a 4.50% intraday loss.
The price rejection has placed #Bitcoin in a precarious position known as the 'Danger Zone', coinciding with historical Pre-Halving Retraces and an impending FED rate decision.
Despite the downturn, #Bitcoin found support within a crucial region, potentially signaling an end to the downtrend.
Buyers are seeking support at the 38.20% Fibonacci retracement level, which serves as a potential demand zone during correction trends.
If selling pressure persists, Bitcoin's price could drop to $63,000 or even $60,000, corresponding to the 50% and 61.80% Fibonacci levels.
However, if Bitcoin holds the $65,000 level, a short-term recovery might occur, potentially push
According to Coin Gabbar analysis, Bitcoin Price Prediction 2030 is anticipated to hit $250,000, while Bitcoin Price Prediction 2040 forecasts a rise to $500,000.
KEY LEVELS :
RESISTANCE LEVEL : $65,500-$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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