Bitcoin Could Retest $30K Support Level

According to an analyst’s statements, Bitcoin (BTC) could retest the $30,000 support level after recent price consolidation, while the $33K mark remains a popular short-term target for Bitcoin bulls.

At the time of writing this article as of April 15, the father of cryptocurrencies consolidated by $30,500 after hitting ten-month highs of $31,035 a day earlier. Popular cryptocurrency trader and analyst Credible Crypto took to Twitter to share his view on where Bitcoin is heading next:

“We’re going higher. Much higher.” Techincal analyst Murfski described BTC to be “incredibly cheap” in 2023, attributed to year-to-date gains of more than 70% as of mid-April. A Twitter user by the handle of @52kskew supports that both BTC and Ethereum (ETH) also supports this premise, highlighting that the $30K and $2K price-tags for Bitcoin and Ethereum, respectively, represent “key prices to hold” for higher gains.

The all-important support level of $30K may be retested before jumping to $33,000 as the next near-term target being eyed by Bitcoin bulls, based on the analysis of Rekt Capital which incorporated the 100-day moving average indicator.

Sources:

https://cointelegraph.com/news/bitcoin-traders-in-disbullief-as-analyst-predicts-30k-btc-retest

https://cointelegraph.com/news/btc-price-targets-see-33k-next-as-bitcoin-eyes-key-resistance-flip

https://twitter.com/CredibleCrypto/status/1647039768599904259

https://twitter.com/rektcapital/status/1646546070288072705

https://twitter.com/52kskew/status/1646897972830179328

https://coinmarketcap.com/currencies/bitcoin/

https://coinmarketcap.com/currencies/ethereum/