cryptocoin.com DonAlt, one of the closely followed analysts of the crypto money market, whose analysis we have quoted, warned about Bitcoin (BTC) in his recent analysis! So why? Here are the details…
The famous strategist warned about the leading cryptocurrency Bitcoin (BTC)!
Crypto money strategist DonAlt, who has come to the fore with his predictions since the beginning of 2023, made statements to his more than 480 thousand followers on Twitter about the next price levels of the leading cryptocurrency Bitcoin (BTC). The famous analyst warns that there may be a local peak for the leading crypto Bitcoin (BTC). According to the analyst, Bitcoin’s rally above $30,000 was a range divergence. So the range divergence above $30,000 is similar to the bottom range divergence when Bitcoin dropped below $18,000 in November of last year. The analyst conveyed the following words on the subject:
For the same reason that I’m bullish at $16,000, I’ll have to go bearish here as well. I expect to be at the top until proven otherwise.
Traders keep a close eye on range divergences as they can mislead market participants and signal potential trend reversals. However, looking at popular analyst DonAlt’s chart, the current range for Bitcoin is between $18,000 and $30,000. With BTC currently trading at $27,317 and returning to the range, DonAlt suggests that the recent rally to $31,000 could be a trap for Bitcoin bulls.
The analyst points to the price movements in 2021 for BTC!
Popular cryptocurrency analyst DonAlt also warns that BTC’s market structure and timing is similar to the price action of early 2021, when Bitcoin rallied from $55,000 to $65,000 in less than two months before dropping as low as $30,000.
As you know, the leading cryptocurrency Bitcoin (BTC) reached the level of 69 thousand dollars in 2021 and saw the ATH level. However, investors are still renewing their belief that those levels can be realized. The analyst, with his latest prediction, expects Bitcoin to fall a bit to go up. According to the crypto analyst, Bitcoin will drop back to a significant psychological level and show signs of strength before considering re-entering the markets. Here are the analyst’s words:
Bitcoin will drop to $20,000 levels or show strength. I will do what I do again. Anything in between will likely be volatile for months.
However, analyst DonAlt, who attracted attention with his accumulation of leading crypto Bitcoin, Litecoin (LTC) and XRP in November last year, announced that he left his positions after making big gains in three major digital assets last week.
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