A closely followed crypto strategist, who built his following with calls for Bitcoin (BTC) at the time, says $22,000 is a “life or death” level for king crypto. Anonymous analyst DonAlt tells his 414,000 Twitter followers that he is watching how Bitcoin reacts as it slowly rises to $22,000. Here are the details…
DonAlt shares his expectations for Bitcoin
DonAlt, one of the cryptocurrency analysts, drew attention to a critical level for Bitcoin. “Watching this is as exciting as watching the paint dry. $22,000 is still where dreams come true,” he said. According to the analyst, “we will either fail spectacularly there or enjoy the victory”. Stating that there are good bull and bear arguments to be made here, the analyst said, “I still enjoy being in a bull position more.”
BTC struggles with $22,000
At the time of writing, Bitcoin is changing hands at $19,870, down over 3% in the last 24 hours. BTC has failed to break above $22,000 twice in two weeks. However, DonAlt underlines that the leading cryptocurrency has started to exhibit a bullish market structure in short time frames. DonAlt used the following statements:
It has exited the lower timeframe range. Overall, I don’t think levels matter much here. The market structure is much more. For the first time in a long time we really set a higher low and a higher high. I could see above that we filled $22,000 and the huge Three Arrows Capital gap.
DonAlt is referring to the massive $28,000 sale sparked by the collapse of crypto hedge fund Three Arrows Capital. According to the crypto strategist, a move above $22,000 could push BTC to the next resistance around $30,000.
Haters hate. Supports support. There is still a lot of work to do, but I still really like this painting. Just to look for a fairly large average return, not the end of the month.
DonAlt had predicted some levels correctly before
In trading, a return to mean is the theory that prices will return to their averages after an extreme move. In Bitcoin’s case, DonAlt suggests that BTC will make an average reversal after falling from around $30,000 to $17,600 in a matter of days. As we have also reported as Kriptokoin.com, DonAlt is known for predicting some levels correctly.
DonAlt reported the $6,100 BTC saw in March 2020. In addition, DonAlt correctly predicted Bitcoin’s 44 percent rally in the past years, at the beginning of January. It also successfully marked the peak of 2020, February 12, when BTC hits over $10,300.
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