Analyst DonAlt Draws A Scenario For Bitcoin (BTC) To Hit $60,000 This Year
A popular crypto market analyst and trader, known as DonAlt projects a scenario for Bitcoin (BTC) to regain its bullish momentum and moves to $60,000 levels this year.
In a recent video update, DonAlt highlights that the leading digital asset is trading in the weekly timeframe between $33,000 and $60,000.
He points out that the wide price range offers two solid entry opportunities for BTC.
“There [are] two places where you can take a trade in this instance: one the range low ($33,000), which I did. And then two, and I’m going to take that trade if it presents itself, is breakdown into reclaim ($33,000) into okay… mega moon it [to $60,000].”
A rise from $33,000 to $60,000 would give an upside potential of 81.82% for Bitcoin.
While DonAlt remains bullish even to temporarily losing $33,000 support, he is very clear on how far below the key Bitcoin could sink before it gets dangerous for bullish continuation.
“Honestly, the last thing I’m gonna do is bid $28,000. It’s like bidding the failure of $6,000 in 2018. Why would you wanna do that? If we should lose the current range ($33,000-$60,000) I’d much rather buy once we reclaim the range low or much much lower.
Honestly the last thing I'm gonna do is bid $28k
It's like bidding the failure of $6k in 2018, why would you wanna do that?
If we should lose the current range ($33k-$60k) I'd much rather buy once we reclaim the range low or much much lower.
During the 2018 bear market, Bitcoin breached support at $6,000 and lost nearly 50% of its value in less than one month.
Lookin into the short term, the analyst is not convinced that Bitcoin will rally to as high as $44,000 during this initial bounce.
“Daily honestly looking kinda wild. Expecting Twitter experts to flip back bullish somewhere between the two next resistance lines. Praying we get that far.”
Daily honestly looking kinda wild
Expecting Twitter experts to flip back bullish somewhere between the two next resistance lines
