One of the leading analysts in the cryptocurrency world, DonAlt is known for his accurate predictions about the price of Bitcoin (BTC). Drawing attention with his accurate predictions in the past, DonAlt impressed his followers by accurately predicting the bottom point in 2022. Now, he announced that he expects a rise in Bitcoin (BTC), which is trading above the $30,000 level.
DonAlt said in a recent strategy session that Bitcoin is currently navigating what he calls the “destabilization zone.” The crypto strategist believes that the sentiment towards crypto markets is not at extreme levels, and he thinks that Bitcoin could quickly rise from the indecision area of around $30,000.
“If this is a reversal, you’re going to have to have a candle that goes into the indecision zone. Looking at this for me, we tested the instability region before, this test happened in April. We were rejected there. And now we’re back directly to where we are.
I was happy to drop it the first time around, especially given that the sensitivity is starting to rise hilariously towards this resistance. People were gambling on altcoins. People were gambling on meme coins…. So I was very, very eager to sell on this move.
Now, I’m much less keen because, firstly, I think the sensitivity is actually nowhere near where it was last time. Secondly, this resistor has been tested before, so it is weaker now. Third… we basically had a consolidation at $16,000, we went up, then we did a consolidation at $23,000, and then we went up and now we have a consolidation at about $27,000. (…) So this time I will not sacrifice him.”
While DonAlt is optimistic about Bitcoin, he warns that the rally could be “false” if Bitcoin approaches the $26,000 to $27,000 price levels.
At press time, Bitcoin is trading at $30,509.
You can follow the current price action here.