A closely followed crypto strategist and trader describes a scenario where Bitcoin (BTC) has regained its bullish momentum and has skyrocketed over 80 percent this year. Here are the details…
Analyst shared his expectations for Bitcoin price
As Kriptokoin.com, we have previously reported, the analyst named DonAlt, who correctly predicted 3 critical levels in the price of Bitcoin, announced his new predictions. DonAlt says that Bitcoin is trading in a wide range between $33,000 and $60,000 on its weekly timeframe. According to DonAlt, this huge range offers two solid entry opportunities for BTC. The move from the $33,000 low to the $60,000 high represents an 81.82 percent upside potential for BTC.
While the crypto strategist is optimistic about the idea of temporarily losing the $33,000 support, he explains to his 380,200 Twitter followers why going below this key level is dangerous for BTC. In his statement, he mentions that in the bear market of 2018, BTC lost 50 percent of its value in less than a month, and uses the following statements:
To be honest, the last thing I would do is bet $28,000. It’s like betting on failure of $6,000 in 2018. Why would you want to do this? If we lose the current range ($33,000-60,000), I would rather buy when we get the range back to lower or much lower
In the short term, DonAlt doubts that Bitcoin will rally as high as $44,000 during the initial bounce. Talking about the daily levels looking a little wild, the analyst says that although a rise is expected somewhere between the two resistance lines, DonAlt says he is praying to rise to that level.
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