Bitcoin Price Strongly Consolidating Around $23K, Is $30K Reality or Fantasy!

Bitcoin Gets Rejected Again!!

Bitcoin price had the most bullish rally ever in its history by surging above $23K in just a matter of hours. The Bitcoin bulls outperformed the bears who were expected to hinder Bitcoin’s uptrend and turn it into a downturn.

As Coinpedia reported earlier that, Bitcoin has a history of getting rejected multiple times at every stage yet again it gets rejected at $23,000 not once but multiple times in the past 24 hours. 

However, many still believe that Bitcoin rally is unstoppable until it reaches $100K as said by the CEO of Binance, Changpeng Zhao.

Moreover, CZ also said that It may plunge back to $85,000 after rallying to $100K.

Will Bitcoin Price Slide Down or Stand Strong?

The most dominant crypto, however, is manifesting a sense of stability in its growth by showcasing less voltality. Amid the positive market sentiments and the technical indicators, some still believe, Bitcoin may plunge back to $15,000 in 2021.

According to the chart posted by analysts on Trading View, he predicts the Bitcoin Price may slip down drastically close to $15,000 breaking all the support levels. However, he further shows the bitcoin rally to the current levels close to $24,000 in February 2021.

Technical Indicators

• The resistance levels are formed at the newly formed ATH at $23,789
• The support levels are formed initially at $22,400 if it breaks down more, levels around $20k may be imminent.
• The technical indicators suggest a strong buy