What Level Is Bitcoin’s New Target? Will the Rally in BTC Continue? Analysts Commented!

Starting 2023 with a rise bitcoin and cryptocurrency While the market is pleasing to the investors, will this rally continue? It also brings the question.

According to the news of Coindesk BTC’Analysts, evaluating the rise of Bitcoin, said that with the rise of Bitcoin, it turned the resistance levels into support.

In this context, the first to evaluate Katie Stockton, founder and managing partner of Fairlead Strategies said:

“Bitcoin extended its sharp relief rally and pushed the resistance level closer to $21,000.

The next resistance for BTC will be the August high of $25,000. And I think that level of resistance will be very important.”

Another name that evaluates BTC price after Katie Stockton David Duong, head of institutional research at Coinbase it happened.

According to David Duong, any rise in Bitcoin towards $25,000 will depend on traditional risk assets.

In this context, traditional risk assets and technology stocks regained balance in the face of easing recession concerns and expectations of a less aggressive US Federal Reserve.

Because investors seem confident that the FED will slow down the tightening rate and increase by 25 basis points in February.

“In light of these data, the news from the FED will be important for Bitcoin.”

It reached the levels last seen in the summer of 2022. bitcoinhas experienced an increase of approximately 40% since the beginning of 2023.

Struggling to stay above $23,000, BTC continues to trade at $22,911 at the time of writing.

*Not investment advice.

For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!

source site-4