A trader who caught the crypto rally earlier this year believes that Bitcoin (BTC) is poised to repeat its recent rally from $28,000 to a new 2023 high of $35,000.
Pseudonymous analyst DonAlt tells his 509,100 followers on the social media platform X that the next high time frame resistance for Bitcoin is all the way up to $60,000 after BTC managed to close above $32,000 last week.
“Huge close, very exciting. We’re officially back in the all-time high range. No high time frame resistances till $60,000 left for me.”
Looking at the daily chart, DonAlt thinks that Bitcoin is in a position to repeat its rally a couple of weeks ago when it abruptly surged from $28,000 without looking back.
“Almost comically bullish price behavior. Could honestly not look much better.
There obviously are no guarantees in trading but I’m more than happy with this price action…
Two red days, then up only just like in the circle? A duck can dream.”
While DonAlt is bullish on BTC, he warns that Bitcoin is in a vulnerable spot and urges market participants to keep a close watch on the crypto king as he believes any correction at this point might turn out to be severe.
“If this goes up, it goes giga up.
If it goes down, it goes giga down.
It’s time to pay attention.”
At time of writing, Bitcoin is trading for $34,572.
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