Claim Giveaway Token Proof of Reserve

Bitcoin Price Prediction: Market Takes Pause Amid Volatility

12-Feb-2024 By: Lokesh Gupta
Bitcoin Price Prediction: Market Takes Pause Amid Volatility

Bitcoin price prediction 2025 will be around $1,00,000

  • Bitcoin price surpassed the $48,000 resistance level, peaking at $48,800, before indicating a potential downward correction.

  • $BTC initiated a significant uptrend above the $45,500 resistance area, successfully overcoming barriers around $46,000 and $47,200, leading to a favorable market sentiment.

  • Analysis of the higher time frame chart reveals that the recent price correction aligns with a bullish reversal pattern known as a cup and handle formation.

  • The weekly closure of $BTC price above the $46,000 mark signals a buying opportunity on the weekly chart, driven by the bullish breakout of an inverted head and shoulders pattern.

  • The weekly closure of #Bitcoin exhibited a highly bullish sentiment with the formation of an engulfing candle, indicating strong upward momentum.

  • This bullish outlook was further strengthened by seven consecutive weeks of price gains and pushed Bitcoin's price above the critical $47,000 level.

  • As per Coin Gabbar analysis, #Bitcoin Price Prediction 2030 is $200,000, with Bitcoin Price Prediction 2040 reaching $500,000.

KEY LEVELS :

RESISTANCE LEVEL : $48,600-$49,200

SUPPORT LEVEL : $47,600-$46,700

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.

WHAT'S YOUR OPINION?
Related News
Related Blogs