Bitcoin's Price Signals Hope, but Bears Lurk in the Shadows

BTC touches $41,500 support, hitting the lower flag boundary.

• Bitcoin price faced rejection at $49,000 resistance, leading to a significant decline.

• A consolidation phase ensued, with support identified near the $41,500 zone.

• Bitcoin traded within a defined range for nearly 4 days.

• The 4-hour chart showcased an ascending flag, indicating a buyer-seller balance.

• Current struggles persist as Bitcoin seeks to breach the $43,500 resistance.

• A breakthrough above $44,000 could trigger a substantial recovery.

• Coingabbar's analysis aligns short and long-term trends, hinting at a $40,000 target.

KEY LEVELS :

RESISTANCE LEVEL : $43,400-$44,000

SUPPORT LEVEL : $42,100-$41,500

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