Bitcoin’s price has dropped to below $30,000. It is now trading around $29480.
Crypto analyst Rekt Capital said BTC’s price could retest the $28,800 mark and establish that area as a significant support.
BTC prices climbed above $31,000 in the last week after struggling to breach the buffer zone.

Bitcoin is now trading at around $29 479. This represents a drop of about 3% in the last day and only 4% in the seven days prior. The market may have to prepare for a new test of $28,800 after trading highs above 3,100, and then retreating.

That’s today’s Bitcoin price prediction as shared Rekt Capital, a crypto analyst.

Bitcoin price in key area with possible dip of $28,800

Bitcoin price saw a good flip in 2023 after a retracement of 15500 dollars in the wake of FTX’s market rout. BTC recovered over 80% from a retracement post-death of the bear market.

Rekt Capital says that the BTC rally towards $30,000 has seen BTC move to an area which was previously used as both a support and resistance zone on the monthly charts. Last week, bulls were able to break through the supply wall, but $28,800 remained resolute. A new dip is expected despite the weekly close being above this level.

This retest may be all that buyers need in order to confirm the area as a demand-reloading zone. Rekt believes that a successful test of this level could reenergize the bulls to make another upward move.

#BTC Enjoys a solid weekly close above the $28800 resistance (orange).

It would be healthy for the economy if this current dip were to continue. $BTC Retest 28800

This level has the potential to be a support.#Crypto #Bitcoin https://t.co/ZUMHMa7ukR pic.twitter.com/PCAzaIkAvV

— Rekt Capital (@rektcapital) April 17, 2023