Bitcoin ($BTC) faces a crucial battle between bulls and bears around the $40,000 level.
Currently recovering from the $38,500 support, BTC aims to overcome obstacles at $40,400 and $40,500 resistance levels.
The price, hovering above $39,750, is actively trying to surpass $40,000, but bears are impeding progress.
Optimism exists for bullish momentum if $BTC clears the $40,500 resistance zone.
The 50-hourly Simple Moving Average at $39,750 holds technical significance.
A Spinning Top pattern on the daily chart suggests potential bullish momentum.
Investors await the outcome of the #FOMC meeting on January 30-31, introducing an element of uncertainty.
Coin Gabbar analysis focuses on whether btc price can surpass $40,500 or face additional challenges ahead.
CoinGabbar analysts predict that #Bitcoin price prediction 2040 will approach $200,000.
KEY LEVELS :
RESISTANCE LEVEL : $40,700-$41,400
SUPPORT LEVEL : $39,600-$38,800
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