- Bitcoin (BTC) price continues to struggle below $23,500 as the crypto space remains consolidated.
- Some analysts are still bullish on Bitcoin and believe it can hit $30,000 in 4 weeks.
- Some analysts still believe BTC could rebound from its current consolidation and reach $30,000.
Current Situation of Bitcoin Price
Bitcoin price today began with a minor consolidation that soon lost momentum and began to deplete. While the price drop appears to be temporary, the impact is expected to be significant. After the recent bearish weekly close, it is quite evident that the BTC price could drop below $23,000 very soon.
Experts‘ Opinion on BTC Price Surge
Meanwhile, some analysts are still extremely bullish on Bitcoin and believe the price may rise and hit $30,000 in the next 4 weeks. To do so, $25,000 levels could remain a crucial juncture that has to be cleared. A senior Bloomberg analyst Mike McGlone also believes that the asset needs to rise above the $25,000 resistance. A popular analyst Kaleo still believes that the BTC price may rebound from its current consolidation and approach $30,000 in a few weeks.
Kaleo also highlights an HTF breakout that happened just before 2023 began which pushed beyond its descending trend line and surged within a rising channel. Presently it is testing its lower support before attempting a rebound towards 30K mark.