Over $30,000 last week bitcoin The new week started with a decline and declined to $29,270.
While investors are panicking from this drop, popular analyst Rekt CapitalHe said that this decline will be good for long-term bullishness.
Sharing on Twitter, the analyst stated that the recent decline in BTC will be positive for the long-term rise.
The analyst thinks that if the decline in BTC continues, retesting the $ 28,800 level would be healthy.
Rekt Capital, which also added a chart, BTCHe stated that the coin has a solid weekly close above the $28,800 support.
“Bitcoin has a solid weekly close above the $28,800 support (orange).
If this current decline continues and BTC drops further, retesting the $28,800 level would be healthy and positive for BTC.
After all, this level was resistance for a few weeks and now it may have a chance to become support.”
Another golden share of Rekt Capital BTC Added the analysis. According to this analysis, Rekt Capital expects $33,000 in Bitcoin. However, the analyst said that he thinks the $28800 level should be consolidated before $33,000 comes in.
#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
— Rekt Capital (@rektcapital) April 17, 2023
*Not investment advice.
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