While the crypto space was in the belief that the Bitcoin prices are slightly recovering and the bearish clouds may have faded away, the asst yet again initiated with a descending consolidation. Therefore manifesting the possibilities of smashing $32,000 following the current downtrend. Yet the crypto space is about to fall under huge skepticism as the BTC price is all set to hit the $40,000 price zone very soon.
Bitcoin has been trading around $35,000 to $39,000 for quite a long time and currently is attempting to go a little lower, but eventually jump to hit $40K. However, as one of the popular analysts believes that these levels are also short-lived one. The analyst predicts that the BTC price may flip the current consolidation after a couple of days and slice through the consolidation to hit levels much above $41,000.
What’s Next For BTC Price ?
The zones around $40,000 to $42,000 are considered as one of the important zones to hold to continue with a notable uptrend. However, the asset in the upcoming days may get a stronger boost that could assist the price to land up around these areas.
While the traders get a little relaxed by reaching the levels above $40,000, the very next moment the BTC price may drop in the deep drowning well to hit the expected support levels at $30,000 somewhere in between April or May 2022.
Also Read : Bitcoin Price Eyeing a Huge Weekly Target of $43000, BTC Price To Hit This Level In Coming Week !
The analyst thinks that Bitcoin has fallen drastically since November of about 50% away from its ATH. And since then the asset has not showcased a huge and steep correction at a stretch but a drop that includes an accumulation of strength in between.
And hence, the BTC price is expected to surge breaking the trend line and entering the crucial resistance levels at $42,000. Woefully, the profits gained maybe a pretty short-lived one as the asset is further poised to shed them out very soon.
Source: https://coinpedia.org/price-analysis/bitcoinbtc-to-hit-40k-41k-in-next-few-weeks-is-it-the-right-time-to-buy/