Although Bitcoin started off on a disappointing note yesterday with its price falling below $30,000, however later in the day it began to recover and now it is trading at around $29,916 which suggests that market is still in the control of bulls. It appears that Bitcoin has built strong support around $29,000 which is good sign and we may wee Bitcoin surpassing its next resistance level of $31,500 before making additional gains.
In view of the current positive outlook of market, which is expected to persist in coming months, it is possible that we may see Bitcoin surpassing $50,000 by the end of 2023.
Just because it went under 30k for a little bit doesn't mean that it was disappointing, those things needs to happen. There is no strong wall for support at 30k, there is one at 28k so that means as long as we are above 28k we should be doing fine and all other drops and increases are temporary. I haven't checked the latest resistance, but we are doing fine here, anywhere between 29k-31k range should be considered normal movements.
I can wake up to 29k tomorrow and 31k the next day and I would consider them both as the "same" situation we are in, those have no difference in the grand scheme of things. Obviously small intraday traders and leverage traders would have a field day with those, but for long term investors like me, they mean the same thing.