ExwardTRTC
- 20 Eyl 2017
- 840 Mesaj
The famous analyst DonAlt, in a statement to his 479,400 followers in the crypto market, mentions that the rally in Bitcoin and the cryptocurrency market has been broken. According to DonAlt, the price of Bitcoin has failed to surpass a critical resistance level. DonAlt had made a significant investment in Bitcoin in November 2022, correctly predicting that the price would bottom out, and had sold these coins for a profit when the market started to rise this year. Now, DonAlt is issuing a warning for Bitcoin. According to him, the $32,000 resistance level was significant, and BTC has failed to break through this resistance. Therefore, he advises crypto investors to be cautious. DonAlt believes that the failure to breach this resistance indicates that the rally has peaked
DonAlt also warns that Bitcoin may currently be vulnerable to a larger selling wave. He specifically points out that Bitcoin bulls are trading far away from a key level on the weekly chart. DonAlt explains the issue as follows:
“A close below $29.5k this week and I’ll assume the high of this rally is in, expecting $24k or even $20k if something extreme happens A close above $30k this week would still look like indecision to me A close above $32k would look quite good”
DonAlt also warns that Bitcoin may currently be vulnerable to a larger selling wave. He specifically points out that Bitcoin bulls are trading far away from a key level on the weekly chart. DonAlt explains the issue as follows:
“A close below $29.5k this week and I’ll assume the high of this rally is in, expecting $24k or even $20k if something extreme happens A close above $30k this week would still look like indecision to me A close above $32k would look quite good”