Lokesh Gupta
09-03-2024
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
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.
Owned by:-
DCG Tech FZCO, UAE
Delivery Partner:-
Gabbar MediaTech Pvt Ltd.
Copyright © 2025 Coin Gabbar. All Rights Reserved.
