A trader who joined the surge in crypto markets this year believes Bitcoin (BTC) is now capable of unleashing more rallies.
In a recent strategy session, pseudonymous analyst DonAlt tells his 50,800 YouTube subscribers that Bitcoin looks bullish as the crypto king trades above $27,400.
In a bearish scenario, DonAlt sees Bitcoin rise close to $30,000 before taking another leg down.
“If you recover ($27,400) that will be a big strong signal. I think that could easily cost us, if this sh** is really cursed, could take us to $29,400 and then drop again. That would be terrible.”
In a bullish scenario, DonAlt expects Bitcoin to eliminate resistance over multiple time frames and rise as high as $35,000.
“I like $27,400 again. I think if we reclaim it, it’s moon time… And time frames would overlap, which I like to see. If you have the four hours (chart) going into the daily, going into the weekly, and if that goes into the monthly, what it can — the monthly resistance is $35,000 — that’s a sweet deal. And those are some good trades to have…
I am becoming more and more bullish with each passing day.”
At the time of writing, Bitcoin is trading at $28,170, up more than 4% in the past 24 hours and well above DonAlt’s key price level of $27,400.
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