Bitcoin Price is exhibiting upward momentum, surpassing the $42,500 resistance.
Positive signs suggest a possible push towards the $45,000 resistance level.
Analysis of the daily time frame reveals the formation of a bullish reversal pattern, signaling a positive trend.
In the 4-hour chart, a breakout is evident, featuring an inverted head and shoulders pattern, suggesting a notable upward trajectory.
Presently, the $BTC price has retracted from the 50% Fibonacci retracement level.
Traders should wait for confirmation, watching for a breakout rally above $43,700, indicating a potential bullish momentum continuation.
This breakout, effectively overcoming the overhead supply ceiling, heightens the likelihood of a #Bitcoin bullish market trend.
As per Coin Gabbar analysis, $Bitcoin price projection 2030 reaches $200,000, while Bitcoin #priceprediction 2040 exceeds $500,000.
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.
