The analyst who correctly predicted Bitcoin’s collapse last year denies new Bitcoin bottoms. However, the analyst says that he has profitably disposed of 3 cryptocurrencies and will wait for a while.
Levels to consider for buying and selling Bitcoin
A crypto strategist who correctly predicted the bottom of Bitcoin (BTC) in 2022 says that new bear market bottoms are not in the future of the leading crypto. For the analyst’s accurate predictions cryptocoin.comCheck out this article. However, crypto analyst nicknamed DonAlt says that at Bitcoin’s current value of $30,202, the risk-reward investment ratio is undesirable. In this context, DonAlt makes the following statement:
Pretty simple for me. I think this is where (about $32,000) to the upper range (about $60,000) is where most of the risk and little reward are. According to IMO (in my opinion) we will not see new bottoms. Therefore, the closer you get to the bear market line, the better.
Looking at its chart, the crypto analyst says that investors would be better off buying Bitcoin at $20,000, which is closer to the bear market line, to have a better risk-reward ratio on their investments. The leading crypto hit a bear market low of $15,700 in November.
Also, the analyst identifies market range trends, calling $20,000 to $30,000 the “whatever market” range and $30,000 to $32,000 as “indecision.” DonAlt says that above $32,000 is the “bull market” range that sees BTC hit an all-time high of around $69,000 in 2021.
DonAlt: I sold these three coins profitably, I’ll take some rest!
The crypto analyst says that the leading crypto sold Bitcoin at $30,000 earlier this week and sold Litecoin (LTC) and XRP on Friday after buying all three in November. In this regard, the analyst makes the following statement:
I’ve sold BTC in the last few days, and LTC and XRP today. BTC increased ~90%; LTC up ~65%; XRP is up ~50%. It was my pleasure, I didn’t think I’d move this fast but I’m still happy. After that, I’ll take a break before deciding where I want to trade.
Meanwhile, DonAlt said on Tuesday that he has made 2x profits from his Bitcoin investment. The analyst said, “I have closed the position (for now). I am happy with the 2 coats I have achieved and will rest for a while until I see another great opportunity. I’m not in a bear trend, but for the next few months I want to stay calm and think about other things than BTC price.”
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