BTC price targets see $33K next as Bitcoin eyes key resistance flip

Bitcoin (BTC) preserved caller ten-month highs astatine the April 14 Wall Street unfastened arsenic analysts kept hoping for further gains.

BTC/USD 1-hour candle illustration (Bitstamp). Source: TradingView

$31,000 revealed arsenic make-or-break inclination line

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD consolidating astir $30,700 aft spiking past the $31,000 mark.

The brace saw nary large retracement arsenic it headed further into crushed it primitively mislaid successful June 2022.

Now, marketplace participants eyed the imaginable for bulls to capitalize connected existing momentum with the assistance of affirmative macro trends.

United States equities opened higher, with the S&P 500 and Nasdaq Composite Index some up 0.3% astatine the clip of writing.

“With stocks opening up hot, $BTC was capable to support supra the erstwhile scope high,” fashionable trader and expert Josh Rager told Twitter followers aft the open.

“Think we tin spot a retest and propulsion higher present supra $31k+.”

BTC/USD, S&P 500 charts. Source: Josh Rager/ Twitter

Others besides considered the anticipation of BTC/USD hitting $32,000 oregon much successful the abbreviated word earlier taking a much pronounced clip out.

— Rekt Capital (@rektcapital) April 13, 2023

“I judge the adjacent halt is conscionable a hairsbreadth supra $33,000, wherever we'll brushwood the 100 moving average, connected the play clip frame,” macro expert Jesse Dow continued successful portion of Twitter investigation during the week.

“Don't hide we person bullish divergence and convergence connected the weekly. And this has NEVER failed aft we've seen astatine slightest a 75% driblet successful Bitcoin's price, from the erstwhile cycle.”

Zooming out, the value of the existent scope for spot terms became each the much visible, with $31,000 acting arsenic enactment done 2021 until the June 2022 breakdown.

Brandt stays agelong Bitcoin

As assorted fashionable figures called the commencement of "altseason," 1 staying firmly bullish connected BTC was seasoned trader, Peter Brandt.

Related: What Bitcoin carnivore market? BTC terms intimately copying aged halving cycles

In a tweet connected April 13, Brandt revealed agelong positions connected Bitcoin successful summation to stocks successful a further proposition that the worst of the carnivore marketplace was present over.

Heading to MN for the summer. Current Factor LLC positions with trailing stops
Long Nasdaq $NQ_F
Long Gold vs. YPY $GC_F $G6J_F
Long Bitcoin $BTC
Long Gold $GC_F
Long London Cocoa (not shown) $LCC_F pic.twitter.com/FH2o0LxZEz

— Peter Brandt (@PeterLBrandt) April 13, 2023

Previously, erstwhile BitMEX CEO Arthur Hayes had revealed a rethink connected his ain concern strategy, opting to summation crypto exposure.

"The ensuing Bitcoin rally volition beryllium 1 of the astir hated ever," helium predicted successful a blog station released past month.

The views, thoughts and opinions expressed present are the authors’ unsocial and bash not needfully bespeak oregon correspond the views and opinions of Cointelegraph.