• BTC/USD is consolidating around $30,700 after spiking past the $31,000 mark.
• Analysts are expecting further gains with the help of positive macro trends and United States equities providing a boost for BTC price upside.
• Popular figures such as Josh Rager and Jesse Dow are predicting prices to reach as high as $33,000.
Bitcoin Price Targets See $33K Next
Bitcoin (BTC) preserved new 10-month highs at the April 14 Wall Street open with analysts keeping hoping for further gains. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD consolidating around $30,700 after spiking past the $31,000 mark. The pair saw no major retracement as it headed further into grounds it originally lost in June 2022.
United States Equities Provide Boost
United States equities opened higher with the S&P 500 and Nasdaq Composite Index both up 0.3% at the time of writing. Market participants eyed the potential for bulls to capitalize on existing momentum with the help of positive macro trends which could push Bitcoin’s price upwards.
$31K As Make-Or-Break Trend Line
$31,000 revealed itself as a make-or-break trend line with analysts such as Josh Rager expressing hope that BTC will be able to retest and push above this level before aiming for even higher prices towards $32,000 or more in the short term before taking a more pronounced time out.
Analysts Predicting Further Gains
Another popular figure in crypto Jesse Dow believes that after a 75% drop in Bitcoin’s price over previous cycles there is now more arguments for upside rather than downside with another stop just a hair above $33,000 where they should encounter 100 moving average on weekly time frames.
Overall Positive Outlook
The importance of this range has become very visible in recent weeks with many traders remaining bullish on Bitcoin’s future prospects even when various figures have called for an “altseason” showing overall positive outlook on cryptocurrencies future performance going forward