This could be the next target for Bitcoin (BTC) price if it hits crucial levels at $17,300!

The fresh CPI numbers have caused significant volatility in the crypto space as bitcoin prices touch crucial $18,000 levels after a month. The bears somehow managed to limit the price below these levels, but the bulls also seem to be quite strong at the moment. BTC price is trading within a crucial zone aiming to break through the important targets at the earliest.

The bulls now seem poised for a good green December after the current drop to $16,800 led to a bounce. Meanwhile, opportunities to test the $15,800-$15,500 area are still there, which could provide a better place for buyers to enter to retake the levels near $16,800. Once these levels are reached, a good bounce can take the price above $17,300.

trading view

The levels around $17,300 appear to be quite crucial as market makers seem to be targeting sellers (shorters) to stop the hunt around $17,600 up to $18,300. At worst, a triple bottom could form in the short-term rally, which could put significant pressure on the asset from the north; Therefore, BTC price still has a 75% chance of reaching above $18,000 and over 65% chance of climbing above $20,000

Hence, it is a firm bounce at first, now it is imperative that the price sees a pullback towards the $15,433 range which will attract more buyers. The remaining days of 2022 and January 2023 are expected to give buyers an opportunity to recover slightly using the current accumulation as a base. However, regardless of the current market trend, Bitcoin (BTC) price may experience a big dump in 2023-2024.

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