- Bitcoin price has dropped below $30,000 to currently trade near $29,480.
- Crypto analyst Rekt Capital says BTC price could retest $28,800 and establish it as a major support area.
- BTC price bounced above $31,000 last week, having struggled to break past the anticipated buffer zone.
Bitcoin is trading around $29,479, about 3% down in the past 24 hours and now just 4% up in the past seven days. After trading to highs above $3,100 and then retreating to current levels, the market might have to brace for a retest of $28,800.
That’s today’s Bitcoin price prediction as shared by crypto analyst Rekt Capital.
Bitcoin price at key area, with possible dip to $28,800
Following a retracement to lows of $15,500 in the aftermath of the FTX debacle market rout, Bitcoin price saw a decent flip in 2023. An upswing off the post-death cross retracement of the bear market saw BTC recover more than 80%.
According to Rekt Capital, the rally to $30,000 area had BTC trending at an area that has previously acted as a stubborn resistance as well as support zone on the monthly chart. Bulls managed to breach the supply wall last week, but the $28,800 was equally resolute and despite a decent weekly close above the zone, a fresh dip to the level is likely.
Such a retest might be what buyers need to solidify it as a demand reload area. Rekt says a successful retest of the level could reenergize bulls for another upward move.
#BTC enjoys a solid Weekly Close above ~$28800 support (orange)
If this current dip is to get deeper, it would be entirely healthy for $BTC to retest ~28800
After all, that level was a multi-week resistance and now may have the chance to become support#Crypto #Bitcoin https://t.co/ZUMHMa7ukR pic.twitter.com/PCAzaIkAvV
— Rekt Capital (@rektcapital) April 17, 2023
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Minting the Future w Adryenn Ashley. Access Here.
- Source: https://coinjournal.net/news/bitcoin-price-prediction-analyst-says-btc-is-poised-for-a-retest-of-28800/
- :is
- $3
- $UP
- 000
- 100
- 11
- 2023
- a
- About
- above
- After
- aftermath
- All
- analyst
- and
- Another
- Anticipated
- AREA
- around
- AS
- At
- BE
- Bear
- Bear Market
- become
- below
- Bitcoin
- Bitcoin Price
- Bitcoin price prediction
- breach
- Break
- BTC
- btc price
- buffer
- Bulls
- buyers
- by
- capital
- Chance
- Chart
- Close
- could
- Cross
- crypto
- crypto analyst
- Current
- Currently
- Days
- deeper
- Demand
- Despite
- Dip
- down
- dropped
- entirely
- equally
- establish
- Flip
- For
- fresh
- FTX
- get
- Have
- having
- healthy
- Highs
- HOURS
- HTTPS
- in
- IT
- jpg
- Key
- Last
- Level
- levels
- LG
- likely
- Lows
- major
- managed
- Market
- May..
- might
- monthly
- more
- move
- Near
- Need
- of
- on
- Orange
- past
- plato
- Plato Data Intelligence
- PlatoData
- possible
- prediction
- previously
- price
- Price Prediction
- rally
- Recover
- REKT
- rekt capital
- Resistance
- retracement
- Rout
- says
- seven
- solid
- successful
- supply
- support
- that
- The
- to
- today’s
- trade
- Trading
- trending
- true
- upward
- Wall
- webp
- week
- weekly
- WELL
- What
- with
- would
- zephyrnet