Bitcoin

Daily

<h2 id="span-style-font-size-20px-color-inherit-font-weight-bolder-btc-struggles-below-42-000-faces-downside-risk-under-40-000-span-br">BTC struggles below $42,000, faces downside risk under $40,000. </h2>
<ul>
 <li>According to <a href="https://www.coingabbar.com/en/price-analysis" class="f-link" style="" rel="noopener noreferrer nofollow">Coingabbar Technical Analysis </a>, Bitcoin initiated a downward correction from the $45,000 zone against the US Dollar.</li>
 <li><a href="https://www.coingabbar.com/en/crypto-currency/bitcoin-btc-prices-usd" class="f-link" rel="noopener noreferrer nofollow">BTC </a> Daily chart indicates a bullish breakout rally within a rising channel, reaching the $40K threshold but unable to surpass the $45K barrier.</li>
 <li>Subsequent to this, a pullback phase ensues, prompting a retest of the breakout level within the channel.</li>
 <li>On the hourly chart, BTC is presently within the confines of a bearish flag pattern.</li>
 <li>BTC is trading within a Rounding Top pattern on the 4-hour chart.</li>
 <li>The current BTC price hovers around $41,100, reflecting a 1.00% intraday decrease within a bearish candle.</li>
 <li>Bitcoin is above a broken trendline but struggles to gain momentum for a post-retest reversal.</li>
 <li>&nbsp;Long-tail formations suggest a potential bounceback, despite challenges in upward movement.</li>
 <li>Sustaining above $40K could revive the uptrend, targeting $45,000 and a potential 25% increase to $50,000.</li>
 <li>Failure to hold above $40K may prolong the correction, with a likely retest of crucial support at the rising trendline and 50D EMA at $37,500.</li>
</ul>
KEY LEVELS : 
RESISTANCE LEVEL : $41,500-$42,100 
SUPPORT LEVEL : $40,600-$40,000 
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.

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