"It's been sitting below $27,600 for a long time, when the price of BTC is about to go up again."
After the price of cryptocurrency king Bitcoin (BTC) finally managed to regain $27,500, three leading and widely followed analysts have agreed on the rise of the digital asset.
According to Michael van de Poppe, the crypto strategist told his 656,700 followers on his Twitter account that BTC's weekly chart is showing signs that the price will jump higher in the near future.
Even so, the price of BTC needs to pass the level of $27,600 first if it wants to continue the increase at $38,000 up to $42,000 but it should be noted that $30,000 is a strong resistance zone that must be observed.
In addition, fellow crypto analyst Kaleo is also bullish on BTC following his opinion that the price of the digital asset which has now reached more than $27,000 may regain the important level of $40,000.
Meanwhile, traders known as Bluntz, who are well-known in the industry, expect the BTC price correction to end and the digital asset will be ready to continue its upward trend after hovering at the same level for a long time.
However, most investors think otherwise when predicting the price of BTC could plunge following the recent lack of enthusiasm coupled with the uncertainty of crypto regulations by regulators.
As of this writing, BTC price has jumped 0.81% to $27,366 in the last 24 hours with a market cap of $530 billion but is still down 0.62% over the past week.
