Bitcoin's price gradually rose from above $65,000 to achieve a new high.
On Friday, #Bitcoin ($BTC) surged past $70,000, marking a new all-time high following the Non-Farm Payrolls release.
Following the peak at $70,000, BTC's price has partially retraced and currently sits at $68,500.
In the daily chart, following a breach of the ascending channel, $BTC price surged past the previous high.
On the weekly chart, BTC price analysis reveals a breakout from an inverted head and shoulders pattern.
A double-top formation in this price range over three years complicates #Bitcoin's consolidation efforts.
Breaking through this resistance is pivotal for establishing a strong foundation and sustaining consolidation above $70,000.
If bulls maintain the price above $70,000, the BTC/USDT pair could rise to $76,000 and eventually $80,000.
Failure to close above $70,000 may lead to short selling, potentially pushing the price down to $65,000-$60,000 levels.
According to Coin Gabbar analysis, Bitcoin Price Prediction 2030 is expected to be $200,000, with Bitcoin Price Prediction 2040 approaching $500,000.
KEY LEVELS :
RESISTANCE LEVEL : $69,050-$70,100
SUPPORT LEVEL : $67,800-$66,700
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