Can Bitcoin Retest at $42k?

Bitcoin has consolidated below the $47,000 level on Monday, and analysts are coming out of the woodwork to explain what happens next. As the crypto news cycle turns over every day, analysts must change their opinions while Bitcoin seems to defy convention. Crypto analysts believe that Bitcoin could accelerate its gains if it rose past the $48,000 level. These experts add that they would prefer to buy Bitcoin between $40,000 and $42,000, staying away from the token until it bottoms out properly. One analyst even noted that they set buy orders between $40,000 and $42,000 and nothing has changed. As these analysts stand back and wait for a Bitcoin correction, they also note that it could jump as high as $53,000 if it can begin gaining value. At press time, Bitcoin was trading at just under $47,000, rising nearly a percent in overnight trading.