A pseudonymous crypto trader and analyst says he will remain bullish on Bitcoin unless BTC loses one key support level.
The analyst known as DonAlt tells his 68,000 subscribers of the TechnicalRoundup YouTube channel that Bitcoin will likely keeping rallying unless the top crypto asset dips below $70,000 on the weekly chart.
“I’m looking at $70,000. If we start losing $70,000 again, I think then it’s truly over this time, given we have proper expansion, we broke the $70,000, $71,000 level. If we start moving below this weekly open, I think then we’re cooked.
Otherwise, I just think up. I’m quite happy with it. I did buy the last false breakout, and then it went down again, and now it’s above my entry, which is always nice. Generally, that’s kind of my invalidation. We start losing $70,000 again, then I think it’s where we might have another leg to the downside.”
The analyst also predicts that Bitcoin will increase more than 26% from its current value to reclaim the mid-$90,000 range, a level last seen in January.
“I’m just expecting up… $82,000 is the next area of resistance…I can see myself taking some profits into $94,000, $95,000.”
Bitcoin is trading for $75,298 at time of writing, flat on the day.
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