Lokesh Gupta
14-12-2023
According to Coingabbar Technical Analysis, Bitcoin price formed a base above the $40,000 support zone.
BTC is now struggling to clear the $43,500 resistance zone and consolidating.
The retracement revisits the previously breached resistance trendline of a former upward channel.
Daily chart indicates a potential bullish morning star candle pattern.
BTC encounters resistance from the 100-period two-hourly moving average on the 2-hour chart.
On the hourly chart, BTC breached the Bearish Flag pattern and traded higher.
On the Daily chart, BTC Invalidate the Rounding Top Pattern and trading higher.
The main question is that will BTC breach $43500 and $45000 level and touch $50000?
Or will it breach $40000 and come back towards $35000?
KEY LEVELS :
RESISTANCE LEVEL : $43,100-$43,600
SUPPORT LEVEL : $42,500-$42,000
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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