A trader who rode the crypto rally earlier this year believes Bitcoin (BTC) is poised to repeat its recent rally from $28,000 to a new high of $35,000 in 2023.
Pseudonymous analyst DonAlt tells his 509,100 followers on social media platform
“Very close, very exciting. We are officially back at the highest level of all time. There are no more high time resistances to $60,000 left for me.
Looking at the daily chart, DonAlt thinks that Bitcoin is in a position to repeat its rally from a few weeks ago, when it abruptly rose from $28,000 without looking back.
“Almost comically bullish price behavior. Honestly can’t look much better.
There are of course no guarantees when trading, but I am more than happy with this price action…
Two red days, then just up, just like in the circle? A duck can dream.”
Although DonAlt is optimistic about BTC, he is warns that Bitcoin is in a vulnerable spot and urges market participants to keep a close eye on the crypto king as he believes any correction at this point could be serious.
“If this goes up, it will go up enormously.
If it goes down, it goes down tremendously.
It’s time to pay attention.”
At the time of writing, Bitcoin is trading at $34,572.
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Generated image: DALLE3
