DonAlt, one of the leading analysts in the cryptocurrency world, predicts that the Bitcoin price may experience a dramatic rise in the near future. According to DonAlt, Bitcoin is likely to break through a significant resistance level on the weekly chart, which could bring an increase of more than 32% from its current value. This analysis aroused great interest among investors.
However, DonAlt does not hold back from warning investors that Bitcoin is preparing for a potential rally. He warns that if the rise fails, the Bitcoin price could fall below $40,000. DonAlt’s analysis may influence the overall trends of the cryptocurrency market and require important decisions for investors. Price movements, especially of leading cryptocurrencies such as Bitcoin, can often have an impact on other crypto assets. Therefore, cryptocurrency investors should follow DonAlt’s analysis carefully and adjust their portfolios accordingly.
“If in this weekly period [43.622 dolar seviyesinden] If it does, trust it until it fails. If this breakout occurs, I really don’t see any good reason to be bearish. This doesn’t make any sense. It has a strong chart with a clear direction, then you should bet higher. If this breakout fails again, as it did with the ETF (spot Bitcoin exchange-traded fund), I think it will fail in a big way, so you’ll get a move lower (to the mid-$30,000s). So starting at the low end of $40,000, I think you’ll be voided and then lose a little bit, but you can buy it a little cheaper.
“And if there is a breakout, I think the more likely outcome would be a move higher to the next resistance, and the next resistance is $60,000, which would be pretty exciting.”
NEWS CONTINUES BELOW
The analyst says that if Bitcoin moves downwards, it is unlikely to break below the $35,000 support level on the monthly chart.
“$35,000 is big support. A major monthly resistance is near $45,000. This is a kind of boundary within which we move. And to be honest, I think there’s a good chance that’s where we’ll be for a while… But overall it’s trending upward monthly. “In the event of a pullback, it is a buying opportunity.”
You can follow the current price movement here.
