An analyst known for his successful moves this year has revealed his overall plan to re-enter the leading cryptocurrency Bitcoin (BTC).
Bitcoin price has recently entered a bearish trend. This bearish trend caused Bitcoin to drop below the $30,000 level and created a general panic in the cryptocurrency market. However, Bitcoin is struggling to regain the $30,000 mark, which could be a promising sign for cryptocurrency investors.
An analyst named DonAlt, who made a name for himself with the buying and selling transactions he made at the right times this year, said that he plans to stay on the sidelines for now, while the uncertainty process continues for Bitcoin. told.
The crypto strategist expects the $30,000 level to rebound or drop as low as $20,000 before reaccumulating Bitcoin:
“The overall plan for me is:
If we manage to get $30,000 back, I’ll buy back the BTC I sold at around $30,200.
If we retest $20,000, I’ll buy back the BTC I sold.
There must be calm between the two of them.”
Koinfinans.com As we reported, DonAlt also issues a warning to both BTC bulls and bears. According to the analyst, it is possible for Bitcoin to witness a few months of downtrend before revealing a clear trend.
“Maximum pain is sideways in all markets. There are so many speculators everywhere, they will fool (…) make people like me irrelevant on the internet. Then the direction is just up again.”
The crypto analyst does not completely rule out the possibility of a drop for Bitcoin. On the other hand, although the leading cryptocurrency is trading in a wide range, he does not believe that BTC will fall below the bear market of around $ 15,700.
“I said we wouldn’t see new bottoms again.”
You can follow the current price action here.