A crypto analyst who boldly became a Bitcoin bull at BTC’s lows in November is updating his take on the market after a significant pullback.
The pseudonymous German trader, whose alter ego on Twitter is an anthropomorphic duck, tells his 460,000 followers that anyone shorting BTC may be making a mistake.
[adinserter block="1"]DonAlt says BTC’s recent uptrend – defined simply as an asset that’s posted a series of higher-highs in price, paired with higher-lows – remains intact.
I’m gone for a week and all I’m seeing is a bunch of people proudly shorting a higher low
— DonAlt (@CryptoDonAlt) February 11, 2023
In a recent YouTube update, DonAlt said it would take a sizeable pullback to make him reconsider his belief that this rally is not over yet.
“What I don’t want to be seeing is just massive drops.
Like let’s say we go to $20,000, $19,000, that’s where I start being a little bit worried that my thesis is wrong.
It could obviously still go up after that point but I would think that my thesis is wrong, which would probably make me want to sell.
Everything [above] that – I mean I don’t think anything can push me out of the position at this point.”
Bitcoin hit a low of $15,724 on November 9th of last year and touched $24,182 on February 1st.
At time of publishing, BTC is trading at $21,808, up 0.6% in the last 24 hours.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/SimpleB/Tithi Luadthong
