Bitcoin continues to stay above the $30,000 level. It is a matter of curiosity whether the leading cryptocurrency, which has recently risen to $ 31,500, can continue its rise. One of the popular analysts, DonAlt, devoted a wide space to this topic in his latest video.
Knowing the rises in 2023, the analyst said that Bitcoin is in an area of indecision for now and reminded that this region has been tested before. According to DonAlt, the leading cryptocurrency could overcome the weakening resistance due to the testing of the $30,000 levels in April:
“This resistance has been tested before, so it is weaker now. Basically we had a consolidation at $16,000, we went up. Then we had a consolidation at $23,000 and we went up. Now we have a consolidation of roughly $27,000 and you can say ‘Hey this is exactly the same thing’. We will probably do the same thing we did back then.”
The popular analyst stated that a new decline to the $26,000 levels could spoil the outlook.
As it will be remembered, the price of Bitcoin managed to exceed $ 30,000 in April. However, at this point, the leading cryptocurrency, which faced selling pressure, lost momentum and fell to $24,000 over time.
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