Popular analyst of the crypto world, DonAlt, bitcoin He shared a price prediction, stating that bears are dominant. According to the analyst, the dominance of the bears is effective enough to create new lows for the BTC price.
Posting a new video on his YouTube channel DonBottomHe noted that the dominance remained in the bears as the Bitcoin price breakout failed. According to the analyst, BTC could decline to $ 15,300 with this momentum.
“If you look at the daily chart, you will see how dire the situation will be. The resulting image is not the kind of breakout you would want to see in a downtrend. In this case, that’s usually your peak. As a result, you should keep your target in a lower range.”
According to DonAlt, a bearish scenario is highly likely as Bitcoin is currently trading below a low timeframe support area.
“We are in a lousy scenario with $16,800 support. It is very critical to hold this level, if not, there will be no choice but to fall.”
At the time of writing, Bitcoin was trading at $16,778.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.