Lokesh Gupta
09-02-2024
Bitcoin price surged above key resistance levels at $44,500 and $45,000.
$BTC is currently accelerating past the $46,000 resistance mark, signaling bullish momentum.
It is now testing the $46,000 level and shows potential to extend its rally towards $48,000.
This week's bullish reversal positions $BTC price to target a breakout beyond the critical 61.80% Fibonacci level resistance.
Over the past two years, this resistance level has served as a significant point for #Bitcoin reversals, enhancing its current challenge.
Anticipation is growing for a breakout of this two-year resistance as #Bitcoin forms an inverted head and shoulders pattern on the weekly chart.
The neckline of this bullish pattern precisely aligns with the 61.80% Fibonacci level, underscoring its importance.
As per Coin Gabbar analysis, #Bitcoin Price Prediction 2030 is $200,000, while Bitcoin #Price Prediction 2040 reaches $500,000.
KEY LEVELS :
RESISTANCE LEVEL : $46,800-$47,300
SUPPORT LEVEL : $45,500-$44,900
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.
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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