Reserve

Cryptocurrency

when

<ul>
 <li><a href="https://www.coingabbar.com/en/crypto-currency/bitcoin-btc-prices-usd" class="f-link" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) experienced a 2.60% drop in the last 24 hours, nullifying a previously anticipated bullish breakout.</li>
 <li>This drop occurred just before the release of U.S. #inflation data, which holds significance in determining when the #Federal Reserve ($Fed) might initiate interest rate cuts.</li>
 <li>Bitcoin struggled to sustain itself above the $72,000 resistance level and has retreated towards the $67,500 support zone.</li>
 <li>Earlier in the week, there was a bullish breakout from the symmetrical triangle consolidation pattern, suggesting a potential rally towards $80,000.</li>
 <li>However, Bitcoin's failure to maintain the breakout might indicate apprehension before the release of U.S. CPI data.</li>
 <li>Re-entry of Bitcoin into the decisive zone suggests an increased likelihood of testing lower support levels.</li>
 <li>BTC/USDT approaches a crucial $74,000 resistance, a breakthrough may fuel bullish momentum aiming for $80,000.</li>
 <li>Bears must quickly break the triangle pattern to push the trading pair down to $64,500, setting the stage for a potential comeback.</li>
 <li>According to <a href="https://www.coingabbar.com/en/price-analysis" class="f-link" rel="noopener noreferrer nofollow">Coin Gabbar analysis</a>, Bitcoin #Price Prediction 2030 is forecasted to surge to $250,000 , while Bitcoin Price Prediction 2040 will reach $500,000.</li>
</ul>
KEY LEVELS :
RESISTANCE LEVEL : $69,800-$71,000
SUPPORT LEVEL : $68,000-$67,000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

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