Analyst Reveals The Level That Bitcoin Should Test For Long-Term Rise!

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

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

*Not investment advice.