Lokesh Gupta
09-01-2024
According to Coingabbar Technical Analysis, Bitcoin has successfully breached key resistance levels at $44,500 and $44,700.
BTC has seen a notable increase of over 6.50%, indicating a potential move towards $48,000.
During the recent trading session, Bitcoin broke through the Ascending channel pattern and has maintained its position above it.
On the hourly chart, BTC is currently trading within the confines of a Bullish Flag pattern, suggesting a positive technical outlook.
The next significant resistance level is identified around $48,700, influenced by the 61.80% Fibonacci retracement level.
The outcome of the BTC ETF decision is poised to play a crucial role in shaping the technical trajectory of the cryptocurrency in the near term.
KEY LEVELS :
RESISTANCE LEVEL : $47,200-$48,000
SUPPORT LEVEL : $46,000-$45,200
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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.
5 months ago
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