bitcoin It performed quite well throughout 2023. Traders, on the other hand, continue to speculate about the next levels of BTC. Many popular traders believe that $30,000 will be a critical threshold of resistance.
A popular cryptocurrency trader HeisenbergHe shared his prediction that “the bulls will push this above $25,000-26,000 soon” and “the next big test will be $30,000.”
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Trader Jake Wujastyk said, “The bulls had one job this weekend. They were unable to close the upper part of the horizontal resistance zone to trigger a bull,” he said, pointing to Bitcoin’s ongoing battle to break above this key level.
Meanwhile, Inmortal tweeted that long-term investments are going through tough times, citing the challenge Bitcoin investors are currently facing. Actually, according to Wujastyk cryptocurrency The unit is currently trading along the ascending wedge resistance zone.
Barchart shared the view that Bitcoin recorded sales following Coinbase’s earnings report. As we reported on Koinfinans.com, the crypto giant posted a massive loss but underperformed analysts’ forecasts.
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The weakest performance is likely linked to the recent decline in the US stock market, which was driven down by Home Depot’s disappointing forecast and concerns that the Federal Reserve will keep interest rates higher for longer.
According to Heisenberg, the next level of resistance will be around $30,000. As BTC is currently trading around $24,000 on average, traders are questioning whether a move to $30,000 is possible.
Although many analysts have different forecasts for short-term resistance and support levels, they keep their long-term bullish forecasts in common. Details such as more adoption of crypto assets, especially Bitcoin, and limited supply by institutional investors are among the main pillars that the price will get better.